The New York Times has reported that Bed Bath & Beyond is the in the process of selling chief assets like Buy Buy baby to Sycamore Partners in New York.
Alongside other key assets, the retailer’s Buy Buy Baby stores will reportedly be cut free after showing another dip in sales over the third quarter, according to the article.
The company's buybuy Baby chain, which sells products for infants and toddlers, helped Bed Bath & Beyond obtain a loan worth $375 million last year.A spokesperson for Bed Bath & Beyond told FOX Business on Friday, "As is our practice, we do not comment on speculation of this nature." Meanwhile, the New York-based equity group also declined comment on the potential sale. Sycamore invests in consumer goods firms and retailers. It hit the headlines last year with its takeover bid for department store chain Kohl's Corp.The troubled home goods retailer posted a bigger-than-expected quarterly loss and a plunge in sales on Tuesday, after saying last week it was exploring options, including bankruptcy, as it struggled with a dwindling cash pile.
The retailer reported an adjusted loss of $3.65 per share, wider than Wall Street's estimate of a $2.23 per share loss.
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Bed Bath and the great BeyondBed Bath & Beyond signaled that it may need to file for bankruptcy. It was the “Beyond” that always captured imaginations, like a $179 comforter, 20 percent off with a coupon. There was always a coupon. Until recently, writes Maura Judkis in Style.
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