Could a retail chain be saved? Hope for three Arizona stores as new buyer steps in.
Over the last few weeks, there has been a lot of bad news for the retail industry as several large chains file for bankruptcy.
One such business is Bed Bath & Beyond, which announced unless it found a buyer, it would cease operations and close all stores by June 30. Bed Bath & Beyond also owns the buybuy Baby brand, which sells clothing, strollers, and other items for use with infants and young children.
And this brand is attracting interest with news of at least two potential bidders looking to acquire the buybuy Baby brand. This could be welcome news for Arizona shoppers.
It has been confirmed that one of the bidders is Babylist, “the leading vertical marketplace and commerce destination for baby, driving purchase decisions for more than 9 million people each year.” They would look to buy the trademark and domain of the brand and close down the physical stores.
The Wall Street Journal has confirmed the second bidder is retail investment firm Go Global Retaill, an "independent operator with several successful, complimentary retail chains in their portfolio.” They own children's clothing brand Janie and Jack and womenswear label ModCloth - which it acquired from Walmart
If Go Global Retail was the successful bidder, "75% of the 120 buybuy baby stores across the nation will remain open."
This provides hope that the retail chain could be saved.
"I think buybuy Baby has a future. It's a part of the market where clients still appreciate advice and insight from specialists. So there's still a need for this category in a way there just isn’t for Bed Bath & Beyond." Neil Saunders, managing director at GlobalData analytics and consulting company.
There are three buybuy Baby stores in Arizona, all holding liquidation sales. Now there is some hope they could remain open.
List of buybuy BABY stores in Arizona
- 2640 West Chandler Boulevard, Chandler, AZ 85224
- 7375 West Bell Road, Peoria, AZ 85382
- 10080 North 90th Street, Scottsdale, AZ 85258
While there is some interest in acquiring the baby retail business, the news isn't as favorable for Bed Bath & Beyond. If no buyer comes forward for the brand, all 360 Bed Bath & Beyond stores, including the twelve in Arizona, will close.
Would you like to see buybuy Baby stores remain open in Arizona? Do you prefer to visit physical stores rather than shopping online?
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