Bed Bath & Beyond’s auction process and the sale of its assets has been extended as discussions continue with potential bidders, especially for its Buy Buy Baby chain of stores. The company said in court papers that it will delay its sale timeline for a few days to ensure the most value-creating transaction is achieved. Interest for the baby gear retailer, Buy Buy Baby, has been expressed by at least two bidders, including Babylist. The chain’s intellectual property is a significant attraction for potential buyers. Private-equity firm behind the children’s apparel brand Janie and Jack has also been in talks to buy the retailer. Bed Bath & Beyond’s digital assets may attract potential buyers but the valuation is not yet clear. The company sought bankruptcy protection in April after failed turnaround efforts and warnings. The floor bid for the auction is due on June 11 at 5 p.m. EST and the final bid deadline is June 16 at noon EST. If needed, an auction will take place on June 21. Bed Bath & Beyond believes the limited extensions are appropriate and necessary while not precluding adequate evaluation of new indications of interest.
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