Bed Bath & Beyond in Talks to Sell Buybuy Baby to Owner of Janie and Jack

The Wall Street Journal2023-06-07

Bed Bath & Beyond is in talks to keep its Buybuy Baby chain open through a possible sale to the private-equity owner of children’s apparel retailer Janie and Jack, according to people familiar with ...

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2023-06-07
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While Bed Bath & Beyond and Buybuy Baby have both been shrinking, the baby business has held up better than the larger home-goods chain, which filed for bankruptcy in April to close stores and look for last-ditch buyers.Bed Bath & Beyond and Go Global Retail didn’t respond to requests for comment.The company has been conducting going-out of-business sales at hundreds of Bed Bath & Beyond and Buybuy Baby locations in recent weeks. Bed Bath & Beyond is also shopping its assets in bankruptcy and last week pushed back the deadline for final bids to Thursday, court filings show. The company also is fielding interest from Overstock.com, the online discount retailer, for the intellectual property behind the main Bed Bath & Beyond banner, people familiar with the talks said. Overstock.com didn’t respond to a request for comment.Under that potential deal, Overstock.com would shut down all remaining physical stores, the people also said. Deal talks are continuing, and Bed Bath & Beyond has yet to accept either offer, they said. Several retailers in recent years have gone out of business in bankruptcy only to find a second online life as brand names on e-commerce platforms.A successful sale of Buybuy Baby to a buyer willing to keep the chain alive would be an unexpected outcome for shoppers who have witnessed the recent downward spiral of the business.When Bed Bath & Beyond entered bankruptcy, Chief Financial Officer Holly Etlin said in court papers that it intended to find buyers for 120 profitable Buybuy Baby stores as well as more than 300 profitable Bed Bath & Beyond locations.Buybuy Baby generated double-digit sales growth in 2021, according to the company. 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