2 weeks Ago By Milad Sherzad
BUYBUY Baby’s CFO has finally revealed what’s next for the troubled company’s future after it filed for bankruptcy and shut all its stores.The big-box retailer said last October it would close all of its physical locations by the end of 2024, a year after its former owner Bed Bath & Beyond went bankrupt.GettyBuybuy Baby has had a turbulent history, but now seems back for good[/caption]GettyAll of its stores were closed last year as the retailer announced it would pursue a digital-first strategy[/caption]But now, the chain is set to be brought back to life with its brand new online reopening later this year.
Adrianne Lee, president and CFO of the brand’s parent company, Beyond Inc., said: “We’re beyond excited to officially reopen buybuy BABY and reunite it with Bed Bath & Beyond.He continued: “Baby Days is our way of celebrating with families—offering them incredible giveaways, curated collections from the most trusted brands, and a fresh, innovative shopping experience.
”The grand reopening will be on May 8 – just days before Mother’s Day.And the company has invited customers to join in with a special reopening event to mark the occasion.Beyond, Inc.
said the come-back celebration will feature “daily giveaways, top-rated baby essentials, and mom-approved registry picks”.Buybuy Baby has had a turbulent past.It was founded in 1996 and purchased by Bed Bath & Beyond for $67million in 2007.
In April 2023, Bed Bath & Beyond filed for bankruptcy after racking up $5.2billion in debt.As a result, 115 of buybuy Baby’s locations closed for good in the following months.
Then, Dream on Me bought buybuy Baby- including 11 site leases – in July 2023 for $16.7million. But in October 2024, the company announced all of its remaining physical store locations would close by the end of 2024.
It said it would push ahead as a “digital-first brand”.And then, in another twist, Beyond Inc, the parent company of Bed Bath & Beyond, decided to buy the retailer back.With that deal signed, buybuy Baby has now been reunited with Bed Bath & Beyond.
Marcus Lemonis, Executive Chairman, said: “I have been focused on returning buybuy BABY to its original growth partner – Bed Bath & Beyond.“The rebirth of this brand and digital security issuance mark a new beginning for an iconic American retailer.“The tokenization of ‘BABY’ offers an exciting opportunity to monetize the intellectual property and share in future success and growth of the retail business.
”It’s not clear whether customers can expect any new physical buybuy Baby stores will be opening..
