Bed Bath & Beyond files for bankruptcy protection. Luxury Giant LVMH touches $500 billion. IPO market shows signs of life. J&J consumer-health IPO process to kick off. Plus, the debt ceiling vote is this week.
Bed Bath & Beyond files for bankruptcy protection over the weekend. Bed Bath & Beyond filed for bankruptcy protection and has asked the courts for permission to auction its assets.The struggling home goods retailer has been warning of a potential bankruptcy since early January. The company’s 360 namesake stores and 120 buybuy Baby locations will remain open for the time being as it works to liquidate assets.
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French Luxury Giant LVMH touches $500 billion in value, a first in Europe. The luxury giant ($LVMUY) became the first European company to surpass $500 billion in market value. The parent company of Louis Vuitton, Moët & Chandon, and Hennessy as well as brands including Givenchy, Bulgari, and Sephora stores, reported a 17% rise in first-quarter sales earlier this month, more than double analyst expectations.
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