Union, N.J. – Bath Bath & Beyond is said to be moving on many fronts to keep itself going.
According to CNBC, Bed Bath & Beyond is considering selling off its core chain as well as the buybuy Baby business. Potential acquirers include Sycamore Partners and Authentic Brands.
Sycamore, which acquired the Belk department store company in 2015, made an unsuccessful play for JCPenney when the company was on the block in 2020. The private equity firm is primarily interested in Bed Bath’s buybuy Baby chain, according to the New York Times.
Authentic Brands Group, which is led by Leonard Green & Partners, has scooped up the intellectual property of a number of struggling retail brands, including Brooks Brothers, Barneys and Forever 21.
Bed Bath & Beyond is also working to secure additional financing of at least $100 million ahead of a bankruptcy filing, CBNC was told.
Two weeks ago, the company announced it had “substantial doubt” about its ability to continue operations. The company said it was exploring a number of strategic alternatives, including bankruptcy, restructuring or refinancing its debt and selling assets.
The company is on track to shutter the remaining units among the group of 150 stores it began closing last year.
At the end of its third quarter in late November, the company was operating 762 Bed Bath & Beyond stores, 137 buybuy Baby stores and 50 stores under the names Harmon, Harmon Face Values or Face Values.