Little-known baby retailer Dream on Me Industries has tentatively won the rights to Buy Buy Baby ahead of an auction for all of the chain’s assets.
Dream on Me's win is only tentative and could very well be clawed back if Bed Bath & Beyond receives a higher bid at an upcoming auction for all of Buy Buy Baby's assets.Since it declared bankruptcy in late April, Bed Bath & Beyond has been determined to sell its assets at the highest price possible.
A little-known baby retailer based in Piscataway, New Jersey, has tentatively won the auction for the intellectual property ofDream on Me Industries, which sells cribs, strollers and other baby goods through a host of retail partners, won the rights to assets such as Buy Buy Baby's trademark and domain after an auction Wednesday, according to the records. The price of the winning bid was not disclosed.
Wednesday's auction was only for Buy Buy Baby's intellectual property, after its parent company Bed Bath & Beyond decided to in an apparent effort to secure a higher bid price. Another auction for all of Buy Buy Baby's assets, including its many stores, will be held July 7, the records say.Dream on Me's win is only tentative. If Bed Bath & Beyond receives a higher bid at the upcoming auction, it could lose the rights to Buy Buy Baby's intellectual property.
Everyday Health Media, a digital media company that produces health and wellness content, was selected as a backup bidder.in late April, Bed Bath & Beyond has been determined to sell its assets at the highest price possible. The company has repeatedly pushed back several auctions as it worked to secure buyers.
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