The retailer will seek court approval for the sale on Tuesday. This week, Bed Bath & Beyond's intellectual property and digital assets were sold to for $21.5 million. The value of Buy Buy Baby's intellectual property and other assets is unclear. While valuations have increased due to high interest rates upping the cost of capital, in this case the cost of keeping Buy Buy Baby's stores open outweighs the upfront bid, some of the people said. Buy Buy Baby in a quagmireĪlthough it has long been considered the crown jewel of Bed Bath & Beyond's portfolio, and attracted interested buyers before and during the bankruptcy process, Buy Buy Baby has still been slow to nab a new owner. Representatives for Bed Bath & Beyond and Sixth Street didn't immediately respond to comment. An attorney for Sixth Street reportedly said in court the lender was considering a credit bid for some or all of Bed Bath & Beyond's assets if no others emerged.
The potential credit bid from Sixth Street and the e-commerce platform, whose identity remains unclear, would likely just be for Buy Buy Baby's intellectual property, the people said. The Wall Street Journal earlier reported Go Global Retail's interest. That number has since dwindled down to about 20 stores, if any at all, they added. Initially, Go Global Retail – which owns the children's wear brand Janie and Jack – was interested in keeping Buy Buy Baby stores open, the people said. In addition, pre-bankruptcy lender Sixth Street Partners is considering an offer, and could team up with an e-commerce platform to credit bid on Buy Buy Baby, the people said. Meanwhile, investment firm Go Global Retail has been weighing a bid, the people said. Gordon added that the size of the overall footprint, the stores themselves and how the stores work wouldn't take Babylist in the direction it wanted to go. Babylist had earlier told CNBC it had $290 million in 2022 revenue and is profitable.
And the answer was actually no," said Gordon. "When we looked at the stores and the Buy Buy Baby store footprint, we really said like, does this accelerate this strategy?. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
0 kommentar(er)
