AFTER months of liquidation sales and store closure announcements, a popular baby goods retailer has announced it has found a buyer.
Buybuy Baby, a former Bed Bath and Beyond subsidiary, said it had been sold.
Buybuy Baby’s sale doesn’t include brick-and-mortar stores — the company is still closing all brick-and-mortar stores.
The company has ceased operations in its stores and is offering discounts of up to 70 percent.
Dream on Me Industries bought Buybuy Baby’s intellectual property for $15.5 million.
Dream on Me is a New Jersey-based supplier of baby products.
The company used to supply items for Buybuy Baby.
The sale to Dream on Me ends a turbulent sales period for the baby brand.
BUY, BUY, BABIES NEGOTIATIONS
To sell its assets, Bed Bath and Beyond auctioned the Buybuy Baby brand.
Bed Bath and Beyond lenders were negotiating with Go Global Retail, owner of Janie and Jack, for a potential takeover of the defunct company.
Negotiations between the two companies collapsed and Bed Bath and Beyond ended the auction.
With the end of the auction, the 120 shops were practically on the verge of being closed.
The sale of Buybuy Baby comes weeks after the parent company also sold its intellectual property rights.
BED, BATH AND BEYOND LIVES ON
Bed Bath and Beyond filed for bankruptcy in late April.
In the Chapter 11 filing, the company said all 350 stores would close unless a buyer left them open.
This month, the company sold its namesake to Overstock.com.
The $21 million Overstock purchase did not include brick-and-mortar stores.
All Bed Bath and Beyond locations will be suspended until their permanent closure.
The US Sun reports more store closures – here a major brand is closing several grocery stores.
A pharmacy brand is also closing 150 branches this year.