Bed Bath & Beyond and Buy Buy Baby sale and bidding updates
Bed Bath & Beyond has extended its auction process once again as discussions progress with potential bidders for its Buy Buy Baby chain of stores. The delay comes as the company has engaged in talks with interested parties for Buy Buy Baby, which has attracted the most interest during the bankruptcy process so far. Bed Bath & Beyond has said that it will delay its sale timeline a few days “to ensure the most value-maximizing transaction is achieved”. While there appears to be no interest in Bed Bath & Beyond and its stores, potential bidders may want its digital assets. The valuation of these assets remains unclear.
Buy Buy Baby has been considered the crown jewel of the assets, reportedly attracting interest in 2022 and in the months ahead of the bankruptcy filing. The assets of the baby gear retailer had earlier attracted interest from at least two bidders, including Babylist. The interest particularly centers on the chain’s intellectual property. There have also been discussions to sell the retailer to the private-equity firm behind the children’s apparel brand Janie and Jack.
Stalking horse bids, the floor bid for an auction, are now due June 11 at 5 p.m. EST. The final bid deadline is now June 16 at noon EST. If needed, an auction will take place on June 21.
Bed Bath & Beyond sought bankruptcy protection in April after months of failed turnaround efforts and warnings it could find itself in court. The chain of namesake Bed Bath & Beyond stores is still expected to be dissolved after the bankruptcy.
FAQs
What is Buy Buy Baby?
Buy Buy Baby is a baby gear retailer owned by Bed Bath & Beyond.
Why is Bed Bath & Beyond selling Buy Buy Baby?
Bed Bath & Beyond sought bankruptcy protection in April and is looking to sell its assets to pay off creditors.
Who is interested in buying Buy Buy Baby?
At least two bidders, including Babylist, have expressed interest in Buy Buy Baby. There have also been discussions to sell the retailer to the private-equity firm behind the children’s apparel brand Janie and Jack.
What is a stalking horse bid?
A stalking horse bid is the floor bid for an auction, designed to set a minimum price for the assets being sold.
When is the auction for Buy Buy Baby?
If needed, the auction for Buy Buy Baby will take place on June 21.
Updates on the auction and sale of Bed Bath & Beyond and Buy Buy Baby.
Bed Bath & Beyond has extended the auction process for its assets, including the Buy Buy Baby chain of stores, as the company continues discussions with potential bidders. In court papers filed on Thursday, Bed Bath & Beyond said it was delaying the sale timeline to ensure the most value-maximising transaction is achieved. Buy Buy Baby has attracted the most interest in potential bidders before and during the bankruptcy process so far, with at least two bidders, including Babylist, showing interest in the assets. Discussions have also taken place to sell the retailer to the private-equity firm behind the children’s apparel brand Janie and Jack. The floor bid for an auction is now due on 11 June, with the final bid deadline at noon EST on 16 June. If necessary, an auction will take place on 21 June.