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Buy Buy Baby

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For the episode of Will & Grace, see Buy, Buy Baby.
Buy Buy Baby
Company typeSubsidiary
IndustryRetail
GenreBaby needs
Founded1996; 28 years ago (1996)
FoundersRichard Feinstein
Jeffrey Feinstein
DefunctJuly 30, 2023; 16 months ago (2023-07-30) (retail stores)
FateChapter 11 bankruptcy
Liquidation (retail stores)
Headquarters
Union, New Jersey
,
U.S.
Number of locations
0 (as of July 30, 2023)[1]
Area served
United States
ProductsBaby products
Servicesregistry and photography plus online ordering
OwnerBed Bath & Beyond
ParentBed Bath & Beyond
(2007–2023)
Websitewww.buybuybaby.com

Buy Buy Baby (stylized buybuy BABY) was an American big-box retail chain that sold clothing, strollers and other items for use with infants and young children. At its peak, it operated 137 stores across the United States.[1] It was a subsidiary of Bed Bath & Beyond, headquartered in Union, New Jersey. The chain liquidated and closed all remaining stores following Bed Bath & Beyond's bankruptcy in 2023.

History

Buy Buy Baby was founded in 1996 by brothers Richard and Jeffrey Feinstein, sons of Bed Bath & Beyond co-founder Leonard Feinstein.[2][3][4] The first location opened in Rockville, Maryland, in May 1996.[5] The chain consisted of eight stores when it was acquired by Bed Bath & Beyond in 2007 for $67 million.[2][3][4] Its primary competitor was Babies "R" Us, prior to that chain's closure in 2018.[6][7]

Bankruptcy and liquidation

As its parent experienced financial distress in the early 2020s, Buy Buy Baby was initially largely unaffected. However, in January 2023, the company announced the closure of five Buy Buy Baby locations, alongside the liquidation of sister chain Harmon Face Values.[8] Later, in February, Bed Bath & Beyond announced the company's withdrawal from Canada; all eleven Buy Buy Baby stores in Canada were closed by that April.[9]

On April 23, 2023, Bed Bath & Beyond officially filed for Chapter 11 bankruptcy protection in the United States, and announced that it would be winding down its operations.[10][11][12] All remaining Buy Buy Baby stores began liquidation sales on April 27, with the last stores closing on July 30, 2023.[13][14][15]

Efforts to sell the chain continued until July, with no adequate bids submitted. A $15.5 million sale of the chain's name and intellectual property to New Jersey-based Dream On Me is pending.[16]

References

  1. ^ a b "Bed Bath & Beyond Inc. Reports Fiscal 2022 Third Quarter Results". Bed Bath & Beyond. 2023-01-10. Retrieved 2023-05-02.
  2. ^ a b "Bed Bath & Beyond Inc. Announces the All Cash Acquisition of buybuy BABY". Bed Bath & Beyond. 2007-03-22. Retrieved 2022-03-15.
  3. ^ a b Bandell, Brian (2018-09-05). "Co-founders of BuyBuy Baby pay $21M for new mansion in Palm Beach". South Florida Business Journal. Retrieved 2023-01-31.
  4. ^ a b Euler, Laura (2022-06-21). "Buy Buy Baby Founders Wave Bye-Bye to Gatsbyesque Long Island Estate". Dirt. Retrieved 2023-01-31.
  5. ^ "'Baby Superstore' suffering growing pains". The Daily Journal. Vineland, New Jersey. 1996-05-29 – via Newspapers.com.
  6. ^ Mannes, Tanya (27 April 2012). "Will new baby megastore compete with Babies R Us?". The San Diego Union-Tribune. Retrieved 2022-03-15.
  7. ^ Hirsch, Lauren (2018-06-29). "Toys R Us stores close Friday, leaving behind nostalgia, anger and a chance of revival". CNBC. Retrieved 2022-03-15.
  8. ^ Tyko, Kelly (2022-01-31). "Bed Bath & Beyond closing more stores, all Harmon locations". Axios.
  9. ^ "Bed Bath & Beyond to wind down Canada operations". Reuters. Reuters. 10 February 2023. Retrieved 11 February 2023.
  10. ^ Alina, Selyukh (23 April 2023). "Homeware giant Bed Bath & Beyond has filed for bankruptcy". NPR.
  11. ^ Fonrouge, Gabrielle (April 23, 2023). "Bed Bath & Beyond files for bankruptcy protection". CNBC. Retrieved 2023-04-23.
  12. ^ "Bed Bath & Beyond files for bankruptcy protection". CNBC. April 23, 2023. Retrieved April 23, 2023.
  13. ^ Perkins, Maddy (2023-04-26). "Bed Bath & Beyond is closing permanently — and its closing sale is underway. Here's how to get the best deals right now". MarketWatch. Retrieved 2023-04-30.
  14. ^ Holman, Jordyn; Kelley, Lora; Hirsch, Lauren (2023-04-24). "Bed Bath & Beyond Shoppers Rush to Use All Those Coupons". The New York Times. ISSN 0362-4331. Retrieved 2023-04-30.
  15. ^ "Bed Bath and Beyond, Buy Buy Baby stores in Florida to officially close July 30. See the list". Florida Today. Retrieved 2023-07-25.
  16. ^ Knauth, Dietrich (2023-07-07). "Bed Bath & Beyond ends auction for Buy Buy Baby stores". Reuters. Retrieved 2023-07-09.
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