The baby gear retailer is drawing interest from at least two bidders as its parent company Bed Bath & Beyond works to auction off its assets and keep some form of its business alive.
Anthony Behar / Sipa USA via AP fileis expected to be dissolved after the failed retailer declared bankruptcy, but the company’s crown jewel — Buy Buy Baby — may live to see another day.
So far, it doesn’t appear as if there’s any interest to buy the Bed Bath banner and keep its stores open, but some bidders are interested in buying its digital assets, a person familiar with the matter told CNBC. As of late November, Bed Bath & Beyond had about $4.4 billion in assets and $5.2 billion in debts, court filings show.Who are the bidders?
The mystery bidder, who was not named in the documents seen by CNBC, is an “independent operator with several successful, complimentary retail chains in their portfolio,” according to the message. Babylist bills itself as a destination for all things baby. It saw $290 million in revenue in 2022, says it’s profitable and counts over a million new parent sign ups each year. The company said it considered putting in a bid to buy the entire chain, including its stores, but it ultimately decided it didn’t fit into its overall strategic plan.
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