Bed Bath & Beyond is in Serious Trouble
Bon-Ton, the company that owns Herberger's and Younkers, filed for bankruptcy in February and is now going out of business.The company is closing all of their stores after failing to find a bidder during a bankruptcy auction earlier this week. Bed Bath & Beyond is in serious trouble too.
Anthony Chukumba, managing director and senior research analyst at Loop Capital Markets, told CNBC: "The company could may be headed for a quicker-than-expected demise if the company doesn't shake things up. If they remain on their current trajectory, this could be Sears, just 5 to 10 years earlier."
Chukumba's advice for the company was to start aggressively closing stores and start ramping up their online presence. Bed Bath & Beyond's stock price has fallen 23 percent in the last month. It has dropped 74 percent in the last five years.