20230930-DK-Butterfly-1, Inc.: going-concern / distress — Bed Bath & Beyond bankruptcy plan confirmed; shares to be canceled

20230930-DK-Butterfly-1, Inc.

Bankruptcy Court confirmed liquidation plan on Sept 14, 2023.
As of July 31, 2023, total assets $42.4M, total liabilities $1,503.6M.
All 782M outstanding common shares will be canceled and extinguished on effective date.
Plan effective date expected on or about September 30, 2023.
Plan provides for orderly wind-down and liquidation of operations.

Key facts

Extracted from this filing and checked against the source text.

Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

20230930-DK-Butterfly-1, Inc. entered chapter 11 in U.S. Bankruptcy Court for the District of New Jersey (petition 2023-04-23).

Proceeding: chapter 11
Court: U.S. Bankruptcy Court for the District of New Jersey
Petition: 2023-04-23

Exact text from the filing

Bed Bath and Beyond Inc. (the “Company”) and certain of its direct and indirect subsidiaries (collectively, the “Company Parties”) filed voluntary petitions (the “Chapter 11 Cases”) under Chapter 11 of the U.S. Bankruptcy Code (the “Bankruptcy Code”) in the U.S. Bankruptcy Court for the District of New Jersey (the “Bankruptcy Court”). On September 14, 2023, the Bankruptcy Court entered its order (the “Confirmation Order”) confirming the Second Amended Joint Chapter 11 Plan of Bed Bath & Beyond Inc. and Its Debtor Affiliates (the “Plan”).

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Source: SEC EDGAR

accession 0001193125-23-238592

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