Bed Bath & Beyond splits auction, doubt grows over Buy Buy Baby sale process - CNBC

Bed Bath & Beyond

28/06/2023 20:14

June 28 (Reuters) - Bed Bath & Beyond is splitting the
bankruptcy-run auction of its Buy Buy Baby chain into two
phases, CNBC reported on Wednesday, citing people familiar with
the matter. 
    An auction was originally scheduled for 10 a.m. on
Wednesday, the report said, adding that now only bids for the
chain’s intellectual property, including its trademark and
domain, would be accepted.
    CNBC also said the home goods retailer was planning to host
a separate auction, potentially on Thursday, where buyers can
submit bids to keep Buy Buy Baby and its stores running as a
going concern.
    Bed Bath & Beyond did not respond to a Reuters request for
comment.
    Some Bed Bath & Beyond brands including its Buy Buy Baby
chain, which sells products for infants and toddlers, had
attracted interest from investment firms Go Global Retail and
Sixth Street Partners, according to media reports.
    Last week, Overstock.com  OSTK.O  emerged as the winning
bidder for Bed Bath & Beyond's intellectual property and mobile
platform in a deal worth $21.5 million. 

 (Reporting by Granth Vanaik in Bengaluru; Editing by Maju
Samuel)
 ((Granth.Vanaik@thomsonreuters.com;))