Looking dismal with low percentage accepting bond tender offer. Participation is around 10-24%...
Stock for bonds sounds good to deleverage when times are good, but things are looking awful and so unsecured senior bonds for stock sounds risky. It could pay handsomely if it works out. Fly in the ointment is that you go to the back of line. Secured bonds get first dips on BK and then unsecured bonds and creditors and then preferred stock and finally common, so taking a risk here from going to seond in line to last in line...
Considering what has happened with JOAN 4Q this months, I am not optimistic about next year...
As saying goes high risk high reward but BBBY is too risky for me...$Bed Bath & Beyond(BBBY)$
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Ok