“Store Closing” signs at a Buy Buy Baby store in the Brooklyn borough of New York, on Monday, Feb. 6, 2023.
Stephanie Keith | Bloomberg | Getty Images
Bed Bath & Beyond canceled a Friday auction for its Buy Buy Baby chain because it failed to secure a buyer willing to keep its stores running – but it’s not quite over for the baby retailer just yet, CNBC has learned.
Bidders backed out of the auction after they determined the chain was no longer worth buying because its value had deteriorated so much, but there are parties still interested in its assets, according to two people close to the matter who weren’t authorized to discuss it publicly.
While it would be unusual, Bed Bath & Beyond could still accept a bid for Buy Buy Baby early next week. The chain’s fate won’t be definitively determined until Tuesday, when a court hearing is scheduled to approve the sale of Buy Buy Baby’s intellectual property to Dream on Me Industries. The company, a little known New Jersey-based retailer and…
2023-07-07 16:33:05
Article from www.cnbc.com
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