While Bed Bath & Beyond is set to wind up, one of its brands may be saved.
There could be some good news for fans of the baby retail chain buybuy Baby.
The chain of stores sells clothing, strollers, and other items for use with infants and young children and is owned by retailer Bed Bath & Beyond, which has filed for bankruptcy.
Both chains were expected to cease operations and stores close by June 30. However, news has come through of two potential bidders looking to buy the brand.
According to CNBC:
Buy Buy Baby is drawing interest from at least two bidders as its parent company, Bed Bath & Beyond, works to auction off its assets and keep some form of its business alive.
One of the bidders is "Babylist, a direct-to-consumer baby registry website that wants to buy its trademark and domain."
The identity of the second bidder has yet to be revealed, but were they to be successful, 75% of the 120 buybuy baby stores across the nation will remain open. There are currently eight buybuy Baby stores in New Jersey.
In a statement to New Jersey’s bankruptcy court, Chief financial officer and chief restructuring officer Holly Etlin advised:
“While the commencement of a full chain wind-down is necessitated by economic realities, Bed Bath & Beyond has and will continue to market their businesses as a going concern, including the buybuy Baby business.
While there is some interest in acquiring the baby retail business, there do not appear to be any suitors for Bed Bath & Beyond at this stage. As a result, all 360 Bed Bath & Beyond stores would close if no buyer came forward.
Your thoughts
Would you like to see buybuy Baby stores remain open? Do you believe keeping brick-and-mortar stores open for those who don't like buying online is important?
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