Bed Bath & Beyond canceled an auction for its Buybuy Baby retail chain, abandoning a last-ditch effort to find a buyer to salvage the infant-focused retailer, WSJ Pro Bankruptcy reported. The retailer has been reviewing bids from interested buyers for all or parts of the company for weeks, with the sale process now down to the final stage. An auction was scheduled for Friday. Last week, Bed Bath & Beyond picked baby-product maker Dream On Me Industries as the winning bidder for the Buybuy Baby brand. The company was looking for higher and better offers, according to court papers filed Thursday. The company said it didn’t receive any higher or better offers for Buybuy Baby, and will instead seek bankruptcy court approval to sell the Buybuy Baby intellectual property to Dream On Me Industries at a hearing next week, according to the court filing Thursday. Bed Bath & Beyond filed for bankruptcy in April after years of losses and failed turnaround plans left the once-powerful retailer short of cash. Bed Bath & Beyond brand, including its website and domain names, and its customer data were sold to Overstock.com last month.
https://www.wsj.com/articles/bed-bath-beyond-abandons-efforts-to-find-b…
