Bed Bath & Beyond Inc.
BBBYQ,
has canceled the auction for its Buy Buy Baby retail chain because bidders had backed out, according to a report late Friday. CNBC reported bidders backed out after determining that the chain’s assets had depreciated too much, citing unnamed sources described as close to the matter. Even after Bed Bath & Beyond filed for Chapter 11 bankruptcy protection in April and its stock was delisted from the Nasdaq exchange, investors have continued to trade the “worthless” stock.
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