Could five retail stores in Ohio be saved from closing?
There could be some good news for customers 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, there has been news this week of at least 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." Babylist describes itself as “the leading vertical marketplace and commerce destination for baby, driving purchase decisions for more than 9 million people each year.”
While Babylist has come forward as a buyer, the identity of the second bidder has yet to be revealed.
Ankura Capital Advisors, an investment banking firm, represents the second buyer, an " independent operator with several successful, complimentary retail chains in their portfolio.”
If the second buyer were successful, "75% of the 120 buybuy baby stores across the nation will remain open."
This provides hope that the retail chain could be saved.
Ohio has five buybuy Baby stores, some of which could remain open should this new acquisition be approved. This would be great news for the retail industry, which has been impacted by store closures this year.
List of buybuy BABY stores in Ohio
- 3749 Easton Market, Columbus, OH 43219
- 6146 Wilmington Pike, Dayton, OH 45459
- 5255 Deerfield Boulevard, Mason, OH 45040
- 4045 Richmond Road, Warrensville Heights, OH 44122
- 292 Main Street, Westlake, OH 44145
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? Would you like to see financial incentives offered to keep stores open and retail staff employed?
Please leave your thoughts in the comment section below and share this article with others so more people can join the discussion.
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