Report: Bidders reportedly interested in BuyBuy Baby

BuyBuy Baby may not go down with the ship.

The retailer is drawing interest from at least two bidders as its bankrupt parent company, Bed Bath & Beyond, works to auction off its assets, reported CNBC. Bed Bath & Beyond filed for Chapter 11 in April with plans to wind down its business and close its 360 namesake stores and 120 BuyBuy Baby stores “while conducting a limited marketing process to solicit interest in one or more sales of some or all of its assets.

In addition to an unknown bidder, the interested parties in BuyBuy Baby include online baby  registry Babylist, which will open its first permanent brick-and-mortar store this summer, in Beverly Hills, Calif.  Babylist CEO Natalie Gordon confirmed to CNBC that the company wants to buy BuyBuy Baby’s trademark and domain, 

The unknown bidder, according to the CNBC report, wants to purchase the brand as a going concern and keep about 75% of its stores open.

The report also noted that, to date, there has not been any interest in buying the Bed Bath & Beyond banner and keeping its stores open, although some parties are interested in buying its digital assets. 

Bed Bath & Beyond’s bankruptcy auction has been delayed twice, which could indicate the retailer is still trying to drum up interest for its assets, the report said. 

 For the full CNBC story, click here.