Bed Bath & Beyond failed to find a buyer for the whole business in bankruptcy.
prized asset — garnered no adequate going-concern bids in a bankruptcy auction, according to court papers.
New Jersey-based baby goods company Dream on Me Industries Inc. won a bankruptcy auction for BuyBuy Baby’s intellectual property last month, but advisers kept searching for a buyer for the whole business. A notice posted to Bed Bath & Beyond’s docket late Thursday indicates none emerged. A hearing to approve the intellectual property sale is scheduled for July 11, court papers show.The failed sale caps a tumultuous period for BuyBuy Baby and its parent company, which is also shutting down.
Bed Bath & Beyond sold its flagship brand last month to online-only retailer Overstock.com Inc. for $21.5 million. Overstock has since said it will relaunch Bed Bath & Beyond online.
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