: Bed Bath & Beyond receives delisting notice from Nasdaq; shares will be suspended before market open on May 3
Bed Bath & Beyond Inc. BBBY said Tuesday it has received a Nasdaq delisting notice because it has filed for chapter 11 bankruptcy. The exchange notified the troubled home goods retailer that trading in its stock would cease at the opening of business on May 3. Bed Bath & Beyond was expecting the move as it is using a brief window to seek a buyer for some or all of its assets and then plans to liquidate and close its stores. The company said it’s canceled the special meeting scheduled for May 9 and is withdrawing its proxy statement filed with the Securities and Exchange Commission on April 5. The stock tumbled 36% Wednesday to 13 cents.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.