Bed Bath & Beyond's Buy Buy Baby stores are closing for good after debtors failed to secure a better offer for the retailer. It is part of the retailer's bankruptcy liquidation process.
Buy Buy Baby's intellectual property assets were sold to Dream on Me Industries, which manufactures and sells baby products and furniture, to the tune of $15.5 million.
Bed Bath & Beyond — once seen as a major player in the retail sector with its wide selection of kitchen and home supplies — filed for Chapter 11 bankruptcy protection in April after years of sagging sales and failed turnaround plans. However, some familiar tenants have already started taking advantage of the open Bed Bath & Beyond retail spaces.
For instance, Burlington, formerly known as Burlington Coat Factory, nabbed 44 locations, according to documents filed in bankruptcy court in New Jersey last month.
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