By Staff Reporters
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Bed Bath & Beyond, Christmas Tree Shops, and Tuesday Morning are unable to find a way to continue and moved into Chapter 7 bankruptcy. When that happens, liquidation sales are held, followed by any assets the company owns being sold off to pay off creditors. Bed Bath & Beyond, for example, saw its name, website, and its brand get purchased by the former Overstock.com, which promptly changed its name. So, while all of its stores closed and it’s no longer the same company, Bed Bath & Beyond’s name still exists. That’s, so far, not the case for Tuesday Morning or Christmas Tree Shops, which have liquidated their merchandise, but have not auction off their names and intellectual property.
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Here is where the major benchmarks ended:
- The S&P 500 Index was up 17 points (0.4%) at 4,337.44; the Dow Jones Industrial Average (DJIA) was up 43 points (0.13%) at 34,006.88; the NASDAQ was up 60 points (0.45%) at 13,271.32.
- The 10-year Treasury note yield was up 10 basis points at 4.54%.
- CBOE’s Volatility Index (VIX) edged down to 17.11.
Energy was the best-performing sector Monday, despite the slight pullback in oil prices.
The U.S. Dollar Index (DXY), which has been rising since July as investors digested the likelihood of “higher-for-longer” interest rates, pushed to its highest level so far this year.
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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Breaking News, iMBA, Inc., Investing | Tagged: bankruptcy, Bed Bath Beyond, CBOE, Chapter 7, Chapter 7 Bankruptcy, Christmas Tree Shops, DJIA, DOW, DXY, energy, NSDAQ, oil, Overstock.com, Russell 2000, S&P 500, Tuesday Morning, US Dollar, VIX | Leave a comment »