What's Going On With Bed Bath & Beyond Stock?

Bed Bath & Beyond Inc BBBY shares are moving higher Wednesday following a report suggesting the company has revived Chapter 11 bankruptcy preparations.

What Happened: According to a Bloomberg Law report, Bed Bath & Beyond is again preparing to file for bankruptcy as other efforts to improve its cash position continue to fall short of providing necessary funding for the embattled retailer. 

The report indicates that Bed Bath & Beyond has held talks with lenders and advisors ahead of the impending Chapter 11 filing. According to people familiar with the discussions, a filing could come before April 26. 

Bed Bath & Beyond shares have seen increased volatility since the start of the year when the company announced it was exploring strategic alternatives, including potential bankruptcy. 

Since that time, the company has announced a series of offerings, including a public offering in early February with initial gross proceeds of $225 million and an additional $800 million in future installments, as well as a new $300 million offering at the end of March. 

The stock appears to be rallying on retail speculation. It has high short interest of approximately 19.26%, according to data from Benzinga Pro. Despite the sharp move higher on Wednesday, BBBY is down more than 80% year-to-date and more than 97% over a one-year period.

Bed Bath & Beyond is expected to report fourth-quarter financial results sometime in early May, although a date has not yet been confirmed by the company.

See Also: Ex-Home Depot CEO Bob Nardelli Sounds Alarm On U.S. Economy: 'We're Going To See A Lot Of Bankruptcies'

BBBY Price Action: Bed Bath & Beyond has a 52-week high of $30 and a 52-week low of 23 cents. 

The retailer's stock was up 32.5% at 46 cents at the time of writing, according to Benzinga Pro.

Photo: Mike Mozart from Flickr.