Although some hope existed that BuyBuyBaby might sell as a complete entity, the retailer did not receive a sufficient offer at auction as an ongoing concern, turning the event into a sale of the company’s intellectual property.
According to filings with the United States Bankruptcy Court for the District of New Jersey, debtors held an auction on June 28. It awarded BuyBuy Baby’s intellectual property assets to Dream On Me Industries, which will own the brand name and related elements of the estate.
The filing goes on to note that the debtors did not receive any higher or otherwise better bids for a BuyBuy BABY going-concern transaction. As such they canceled the going-concern auction. The decision cleared the way for the intellectual property sale.
Dream On Me produces baby products including cribs, playpens, mattresses, bath and potty training products, as well as toddler beds, bunk beds, rocking chains, dressers and step stools. It markets its products under its own brand name, as well as Evolur Baby, Sweetpea Baby, TailZzz, Hannah & Sophia and Slumber Baby. Although the New Jersey-based company began as a retail operation in 1988, according to its website, Dream On Me sells through partners such as Amazon, Walmart, Target, Wayfair, Burlington and Kohl’s. It also sells through Overstock, which purchased and will operate its e-commerce business under the Bed Bath & Beyond name.
A message sent by HomePage News to Dream On Me requesting comment on the purchase was not immediately returned
