Buy Buy Baby Set To Close Its Hudson Valley Location

SCARSDALE, NY — Hopes of saving retailer Buy Buy Baby were dashed. The company will close all of its stores across the U.S., including its location in Scarsdale.

This is part of the parent company's bankruptcy and 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.

"We have made the difficult decision to begin winding down our operations," the Buy Buy Baby website said. "Bed, Bath & Beyond and Buy Buy Baby remain open to serve you."

It is not immediately clear when stores would begin closing.

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.

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.

Bed Bath & Beyond filed for Chapter 11 bankruptcy protection on April 23, listing its estimated assets and liabilities at a value of up to $10 billion.

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