A “Store Closing” banner on a Bed Bath & &(************************************************************************* )shop in Farmingdale, New York, on Friday,Jan 6, 2023.
Johnny Milano|Bloomberg|Getty Images
Bed Bath & &(************************************************************************ )trademark name might be the only part of the unsuccessful merchant that resides on.
The house products chain, which likewise owns Buy Buy Baby shops, got a $215 million deal from online merchant Overstock com for a few of its properties, including its copyright, according to court documents submitted Tuesday.
Overstock com’s stalking horse quote– which will set the flooring at the anticipated bankruptcy-run auction– likewise consists of business web and mobile residential or commercial properties and all service information. The deal does not consist of Bed Bath & &Beyond orBuyBuyBaby’s shop areas, which are running going-out-of-business sales.(********** )
Competing quotes are due byFriday Bed Bath stated in a declaration it is still obtaining other deals. The auction is anticipated to happen June 21.
The sale procedure had actually been extended just recently as conversations had actually continued with potential stalking horse bidders.
In current weeks conversations have actually focused around the properties for Buy Buy Baby, typically thought about the crown gem of the Bed Bath & &(************************************************************************* )portfolio. The Buy Buy Baby properties in specific had actually brought in interested bidders.
It’s long been believed that Bed Bath & &(************************************************************************ )shops would not bring in interest, although CNBC formerly reported that bidders had an interest in its digital properties.
Bed Bath & & Beyond had actually looked for chapter 11 security in April, list below months of many stopped working turn-around efforts and personal bankruptcy cautions.
The merchant had 360 name shops and 120 Buy Buy Baby areas that were open when it declared personal bankruptcy. It had actually formerly devoted to closing all of its Harmon FaceValue shops.
