Two bidders are reportedly showing interest in Buy Buy Baby as its parent company Bed Bath & Beyond is expected to dissolve.
That bye-bye may be a little bit premature, baby.
Buy Buy Baby, the baby gear retailer is drawing interest from at least two bidders as its parent company, Bed Bath & Beyond, works to auction off its assets and keep some form of its business alive, according to CNBC.
https://www.thestreet.com/retailers/bed-bath-and-beyonds-baby-gear-retailer-attracts-bidders
@boew+1mXYMOfA Being in the industry I would agree with you , the reason they didn't sell BABY before bankruptcy was b/c they couldn't get the price they "thought '" it was worth . If it sell now it will be closer the price it is "actually " worth . BABY had issues before the overall stock/vendor issues etc . Market share and sales were already starting to decline even as more stores were opened and new markets entered .
If a company acquires baby for a price remotely close to what corporate and the c suite think it is worth, then the acquiring company will be next to file bankruptcy. The few months working at BB&B, I continued to hear the value of baby and within a few weeks of working at BB&B I realized that the majority have no clue. Unfortunately, clueless is the approach that was used for operating a business by the c suite and corporate.
I have read multiple comments related to the previous executives and the id--tic stock buy backs in an attempt to increase the stock price, all while revenues decline. The BB&B board approved everything and the ceo was part of that board. Upon being promoted to ceo, she stated the plan was to institute a turnaround plan. That would be a miraculous feat for anyone, but especially for someone that historically has driven multiple corporations into the ground.
What difference does it make?
@3pvk+1mXYMOfA Tomorrow is just opening bid , then an auction may happen if needed , after the auction creditors and the court weigh in . After that the best offer , meaning the one that pays the most back to debt holders/creditors becomes final . So a buyout of say BABY could be approved or they may see the bids they have on leases and just selling IP would return the most to creditor, etc .( this is just a made up example )
Is there anyone that can explain how this goes now? If no buyer places an offer today, 6/7 which is the deadline what happens?
Meant to say I do not disagree corp staff would be gone .
@2wos+1mXYMOfA I do disagree that they corporate staff would be gone . But a business that is a going concern is one that can go on for the foreseeable future , so BABY could last long term. I guess we all see within a few weeks .
@2lng+1mXYMOfA in regards to layoffs if Baby is acquired by someone what does it matter, especially if it is kept for an online presence and no brick and mortar? If stores are kept open that means those associates may be spared but mostly everyone in corporate would not. Everything being said Baby would be kept as a "going concern" and chances are more likely it would not last much longer. I think @2lin+1mXYMOfA post is fairly accurate.
@1ftm+1mXYMOfA sounds like the chances might not be that slim .
Pretty much zero chance of any acquiring company keeping anyone. If they do it would likely be on an interim basis for a few months, but that is highly unlikely. Especially if a company like Babylist who only has an online presence purchases Baby. Let's be real, BBB will go to total liquidation. Only Baby has a chance of having some sort of future even if it is only short lived.
There’s no chance of them keeping some employees on if someone else buys the company? Maybe they need employees?
Although baby has a slim chance of be spared in some form, everyone currently employed in this regime will still be laid off.
"...keep some form of its business alive"
It long ago ceased to be "its" property when they collateralized it.