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Bed Bath & Beyond Inc.
BBBYQ,
has cancelled 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 they had determined that the chain’s assets had depreciated too much, citing unnamed sources close to the matter. Even after Bed Bath & Beyond filed for chapter 11 bankruptcy protection and its stock was delisted from the Nasdaq, investors have still traded in the “worthless” stock.
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