“Store
Closing”
signs
at
a
Buy
Buy
Baby
store
in
the
Brooklyn
borough
of
New
York,
on
Monday,
Feb.
6,
2023.
Stephanie
Keith
|
Bloomberg
|
Getty
Images
The
New
Jersey
baby
retailer
that
bought
Buy
Buy
Baby’s
intellectual
property
from
its
bankrupt
parent
company
Bed
Bath
and
Beyond
also
snatched
up
11
of
its
leases
and
is
well-positioned
to
reopen
stores,
court
records
show.
Dream
on
Me
Industries,
a
longtime
supplier
to
Buy
Buy
Baby
for
cribs,
strollers
and
other
baby
goods,
bought
the
leases
at
a
bankruptcy-run
auction
on
Wednesday
for
a
total
price
of
about
$1.17
million,
records
filed
late
Thursday
show.
The
company
already
bought
the
baby
chain’s
IP,
including
its
trademark,
business
data
and
internet
properties,
for
$15.5
million
in
an
auction
late
last
month,
but
the
deal
did
not
include
keeping
Buy
Buy
Baby’s
stores
open.
It
is
not
immediately
clear
what
Dream
on
Me
plans
to
do
with
the
11
leases.
The
retailer
does
not
have
a
brick
and
mortar
footprint
and
currently
sells
its
goods
through
a
host
of
retail
partners,
including
Amazon,
Kohl’s,
Target,
Walmart
and
Home
Depot,
according
to
its
website.
However,
Dream
on
Me
could
use
the
Buy
Buy
Baby
IP
assets
it
already
obtained
–
plus
the
leases
–
to
reopen
the
beloved
chain.
The
retailer
did
not
immediately
return
a
request
for
comment.
Long
considered
the
crown
jewel
of
Bed
Bath
and
Beyond’s
empire,
bidders
had
primarily
been
interested
in
Buy
Buy
Baby
after
its
parent
company
declared
bankruptcy
in
late
April
and
announced
it
would
host
a
series
of
auctions
for
its
assets.
Some
bidders
had
been
interested
in
keeping
the
chain’s
stores
open,
but
ultimately,
no
viable
bids
emerged.
Go
Global
Retail,
a
brand
management
firm
that
owns
children’s
apparel
company
Janie
and
Jack,
tried
to
bid
on
Buy
Buy
Baby
as
a
going
concern
to
keep
stores
open,
but
the
deal
ultimately
fell
apart,
CNBC
previously
reported.
About
three
months
into
liquidation
sales
at
the
chain,
very
little
inventory
is
leftover,
CNBC
previously
reported.
If
the
stores
were
to
reopen
under
new
ownership,
they
would
likely
need
to
be
closed
temporarily
in
order
to
be
restocked,
which
Dream
on
Me
is
well-positioned
to
do.
The
leases
Dream
on
Me
won
at
auction,
which
are
considered
to
be
in
prime
real
estate
locations,
are
primarily
dotted
across
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.
