A “Shop Closing” sign on the Buy Buy Baby store within the Brooklyn neighborhood of Latest York City, Monday, Feb. 6, 2023.
Stephanie Keith | Bloomberg | Getty Images
Little-known children’s retailer based in Piscataway, NJ, tentatively wins IP auction Bath beds and more Crown Jewel Buy Buy Baby, court records filed Thursday say.
Dream on Me Industries, which sells cribs, strollers and other baby items through multiple retail partners, won the rights to assets akin to the Buy Buy Baby trademark and domain after Wednesday’s auction, based on records. The worth of the winning bid was not disclosed.
Wednesday’s auction was for Buy Buy Baby’s intellectual property only, after its parent company Bed Bath & Beyond decided to separate up the sale process in an apparent effort to secure a better bid price. The following auction of all Buy Buy Baby assets, including many stores, will happen on July 7, records say.
The Dream on Me victory is just preliminary. If Bed Bath & Beyond receives a better bid in an upcoming auction, it could lose its Buy Buy Baby intellectual property rights.
On a regular basis Health Media, a digital media company that produces health and wellness content, was chosen because the fallback bidder.
Since filing for bankruptcy at the tip of April, Bed Bath & Beyond has been determined to sell its assets at the very best possible price. The corporate repeatedly pushed back several auctions in an effort to secure buyers.
Interest centered around Buy Buy Baby, long considered the Most worthy a part of Bed Bath & Beyond’s business. However the sale process is growing uncertain after doubts arose over the number and size of bids in the times leading as much as the auction, CNBC previously reported.
The corporate has already landed its namesake banner on Overstock.com for $21.5 million. The e-commerce retailer, which plans to rebrand its website as Bed Bath & Beyond, has dropped its takeover of Bed Bath stores and inventory.