BB Liquidating Inc. (BLIAQ)

[fredman]

Pre Packaged Bankruptcy discussed in latest BBI 10-Q

Even with a successful and efficient implementation of the cash management strategy, the successful achievement of our planned revenues for 2010, and the successful recapitalization of our debt and equity structure, we may not achieve anticipated results and we may have to take other actions such as modifying our business plan to close additional stores, pursuing additional external liquidity generating events, seeking additional financing to the extent available, further reducing or delaying capital expenditures or making a pre-packaged, pre-arranged or other type of filing for protection under Chapter 11 of the U.S. Bankruptcy Code.

ALSO on the BBI 10-Q:

One strategy we are pursuing involves an exchange of all or part of our Senior Subordinated Notes for Class A common stock.

...Assuming that we can reach agreement with such holders on the terms of an exchange, we will seek to implement an exchange during the latter part of the second quarter or early part of the third quarter of 2010.


Source: http://www.sec.gov/Archives/edgar/data/1085734/000119312510120521/d10q.htm

STRONG SELL!!!!