BBBY - Bed Bath & Beyond drops again on report asset sale efforts are faltering

Bed Bath & Beyond Inc. ( NASDAQ: BBBY ) spun lower in mid-day trading on Friday as concerns grew the retailer will be unable to find a buyer in the bankruptcy process.

Sources told Bloomberg that Bed Bath & Beyond ( BBBY ) is pushing ahead with bankruptcy preparations without a bidder in place yet for key assets like the Buy Buy Baby brand.

A Bed Bath & Beyond spokesperson issued a statement indicating the company continues to work with advisors and implement actions to manage the business as efficiently as possible as it consider all paths and strategic alternatives.

Shares of BBBY showed a 3.45% drop at 12:53 p.m. on Friday to follow on Thgursday's decline when a SEC filing indicated the company does not have sufficient resources to repay the amounts under the credit facilities and received a default notice from JPMorgan.

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