Major Retailer To Close Remaining FL Stores

FLORIDA — A last-ditch effort to save Buy Buy Baby has failed, and the company will close all its stores in Florida and across the U.S. as part of its bankrupt parent company's ongoing liquidation.

CNBC reported that the owner of children’s apparel company Janie and Jack was "eager" to buy the Bed Bath & Beyond chain and keep it running, but could not reach a deal on its value.

There are seven Buy Buy Baby (styled buybuy BABY) stores remaining in Florida. As of Thursday morning, these locations are still listed as open on Buy Buy Baby's website:

• Altamonte Springs, 130 East Altamonte Drive, Suite 1000
• Brandon, 11345 Causeway Boulevard
• Coral Springs, 2035 North University Drive
• Jacksonville, 8801 Southside Boulevard
• Miami, 8241 West Flagler Street, Suite 100
• Orlando (E. Colonial), 3206 East Colonial Drive
• Pembroke Pines, 11360 Pines Boulevard

Buy Buy Baby's lender "determined it could recover more of its losses" by selling the chain's IP (intellectual property) and going ahead with liquidation sales. Debtors canceled an auction of the entire business last week, CNN Business reported. It is not immediately clear when stores would begin closing.

New Jersey's Dream on Me Industries, one of Buy Buy Baby’s former suppliers, won the chain’s trademark and digital assets for $15.5 million according to CNBC. Bed Bath & Beyond failed to receive any higher bids.

Buy Buy Baby was seen as one of the retailer's more valuable assets, with several companies interested in securing at least part of the brand separately from the parent company.

Related:

• Tuesday Morning Closing Last 16 Florida Stores
• 12 More FL Bed Bath & Beyond Stores To Close As Retailer Seeks Funds

Bed Bath & Beyond, which is headquartered in Union, New Jersey, filed for Chapter 11 bankruptcy protection on April 23, listing its estimated assets and liabilities at a value up to $10 billion. Discounted sales have been going on since late April at 360 Bed Bath and Beyond stores around the country, including the stores remaining in New Jersey.

Overstock.com put in a $21.5 million offer for Bed Bath & Beyond's IP in June.