[ad_1]
Buy Buy Baby store in the Brooklyn borough of New York, US, on Monday, February 6, 2023.
Stephanie Keith | bloomberg | Getty Images
bed bath behind She makes another last ditch effort to keep one of her chains alive.
The retailer said in court papers that it will conduct a separate sale of Buy Buy Buy Baby — considered the crown jewel of its assets — while it moves forward with the auction of the Bed Bath & Beyond chain.
A split sale gives the retailer more breathing room to get an offer than a buyer who might be willing to keep the Buy Buy Buy Baby stores open, or at least increase the offer price.
Buy Buy Baby’s assets gained interest from buyers even before its parent company filed for bankruptcy in April. Since then, the children’s merchandise retailer has attracted interested buyers during the sale process, including from some potential bidders who have shown interest in maintaining their physical footprint, CNBC previously reported.
The Buy Buy Baby asset auction is scheduled for June 28.
Meanwhile, Bed Bath & Beyond’s fate to close its stores appears to be sealed. An auction of the company’s assets will go ahead on Wednesday.
last week, Overstock.com It made an offer of $21.5 million for Bed Bath & Beyond’s assets, including its intellectual property, business, internet and mobile properties, and all business data. the offer They will be used to prepare the ground in the auction.
The sale has recently been extended as the company has been in discussions with potential stall horse bidders who will put the floor up for auction.
Bed Bath & Beyond stores were deemed less likely to attract interest, and buyers were expected to focus on its digital assets. The retailer tried numerous times in recent months to turn around its business before declaring bankruptcy in April.
[ad_2]
