Buy Buy Baby stores set to shutter as Go Global's deal falls apart - CNBC

Bed Bath & Beyond

11/07/2023 23:40

July 11 (Reuters) - Bankrupt retailer Bed Bath &
Beyond's Buy Buy Baby stores are set to shutter after a last
ditch effort to save the chain and keep the business alive fell
apart, CNBC reported on Tuesday.
    Brand management firm Go Global Retail was eager to buy the
Bed Bath & Beyond chain and keep it running, but couldn't reach
an agreement on valuation, the firm's CEO Jeff Streader told
CNBC.
    Lender Sixth Street Partners, Bed Bath & Beyond's lead
creditor, determined it could recover more of its losses than
what Go Global was willing to offer by selling Buy Buy Baby's
intellectual property, auctioning off its leases and moving
ahead with liquidation sales, according to the report.
    Bed Bath did not immediately respond to a Reuters' request
for comment.
    Once a storied retailer, Bed Bath & Beyond filed for Chapter
11 bankruptcy protection in April after struggling for years
with dwindling sales and a failed merchandising strategy.

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.Mishra@thomsonreuters.com))