Brand management firm Go Global was eager to save Bed Bath & Beyond's crown jewel Buy Buy Baby, but it couldn't reach an agreement on valuation.
Brand management firm Go Global Retail, which owns children's apparel company Janie and Jack, was eager to acquire Buy Buy Baby from Bed Bath & Beyond but couldn't reach an agreement on valuation.
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. Go Global believed there was a path to close as recently as Monday, but in the end, it couldn't agree on a number with Sixth Street, Streader said.
Go Global's bid would have been higher than Dream on Me's, but not by much because "there was a huge erosion of value in the last six weeks," according to a person close to the matter, who spoke on the condition of anonymity because they were not authorized to discuss the matter publicly.
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