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Bed Bath & Beyond and Buy Buy Buy signs are displayed outside the store in Los Angeles.
Patrick T Fallon | bloomberg | Getty Images
A little-known children’s retailer based in Piscataway, New Jersey, has tentatively won the auction for the intellectual property of Bath and Beyond bed Crown Jewel Buy Buy Buy Baby, court records say Thursday.
Dream on Me Industries, which sells cribs, strollers and other baby goods through a group of retail partners, won the rights to assets such as the Buy Buy Buy Baby brand and domain after an auction Wednesday, according to records. The winning bid price was not disclosed.
Wednesday’s auction was for Buy Buy Buy Baby’s intellectual property, after parent company Bed Bath & Beyond decided to split the sale in an apparent effort to secure a higher bid price. And records say another auction of all of Buy Buy Baby’s assets, including several stores, will take place on July 7.
Dream on Me’s win is only temporary. If Bed Bath & Beyond receives a higher bid in the upcoming auction, it could lose Buy Buy Baby’s intellectual property rights.
Everyday Health Media, a digital media company that produces health and wellness content, was selected as a backup exhibitor.
Since declaring bankruptcy in late April, Bed Bath & Beyond has decided to sell its assets for the highest possible price. The company has repeatedly postponed many auctions as it worked to secure buyers.
Attention centered around Buy Buy Baby, long considered the most valuable part of Bed Bath & Beyond’s business. But CNBC previously reported that the sale is increasingly uncertain after doubts grew in the days leading up to the auction about the number and size of bids.
The company has already offloaded its namesake banner to Overstock.com for $21.5 million. The e-commerce retailer, which plans to change the name of its website to Bed Bath & Beyond, has chosen not to acquire Bed Bath stores and inventories.
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