A “Closed Store” sign at a Buy Buy Baby store in Brooklyn, New York, on Monday, February 6, 2023.
Stephanie Keith | Bloomberg | beautiful pictures
New Jersey newborn retailer bought Buy Buy Baby’s intellectual property from bankrupt parent company Shower beds and more also won 11 leases and is well positioned to reopen stores, court filings show.
Dream on Me Industries, a longtime Buy Buy Baby supplier of cribs, strollers and other baby gear, purchased the leases in a bankruptcy auction on Wednesday for a total of about $1.17 million, filings filed late Thursday showed.
It’s the company bought the subchain’s IPincluding trademarks, business data and internet assets, for $15.5 million in an auction late last month, but the deal does not include the maintenance of Buy Buy Baby stores.
It is not clear what Dream on Me plans to do with the 11 leases. According to its website, the retailer has no traditional footprint and currently sells its merchandise through a range of retail partners, including Amazon, Kohl’s, Target, Walmart and Home Depot.
However, Dream on Me can use the Buy Buy Baby IP assets it already has — plus the leases — to reopen the beloved chain.
The retailer did not immediately respond to a request for comment.
Long considered the crown jewel of the Bed Bath and Beyond empire, contractors are primarily interested in Buy Buy Baby after its parent company. declare bankruptcy in late April and announced it would hold a series of auctions of its properties.
Some contractors were interested keep chain stores openbut in the end, no viable bid appeared.
Go Global Retail, a brand management company that owns the Janie and Jack children’s clothing company, attempted to bid on Buy Buy Baby as an ongoing concern to keep the stores running, but the final deal fell apartCNBC previously reported.
About three months from the sale of liquidation at the chain, very little inventory remains, CNBC previously reported. If stores reopen under new ownership, they will likely have to close temporarily to restock, something Dream on Me is well positioned to do.
The Dream on Me leases won in the auction, considered prime real estate locationmainly scattered throughout the Northeast.
Four of the leases are in New Jersey, located in Paramus, Bridgewater, Woodbridge Township and Cherry Hill. Two are in New York while the rest are in Maryland, Delaware, Massachusetts, Connecticut and Virginia.
Dream on Me, founded in 1988, has at least six brands under its portfolio, including Evolur Baby, Sweetpea Baby and Slumber Baby.
