Bed Bath & Beyond splits auction, doubt grows over Buy Buy Baby sale process - CNBC

(Reuters) - Bed Bath & Beyond is splitting the bankruptcy-run auction of its Buy Buy Baby chain into two phases, CNBC reported on Wednesday, citing people familiar with the matter.

An auction was originally scheduled for 10 a.m. on Wednesday, the report said, adding that now only bids for the chain’s intellectual property, including its trademark and domain, would be accepted.

CNBC also said the home goods retailer was planning to host a separate auction, potentially on Thursday, where buyers can submit bids to keep Buy Buy Baby and its stores running as a going concern.

Bed Bath & Beyond did not respond to a Reuters request for comment.

Some Bed Bath & Beyond brands including its Buy Buy Baby chain, which sells products for infants and toddlers, had attracted interest from investment firms Go Global Retail and Sixth Street Partners, according to media reports.

Last week, Overstock.com emerged as the winning bidder for Bed Bath & Beyond's intellectual property and mobile platform in a deal worth $21.5 million.

(Reporting by Granth Vanaik in Bengaluru; Editing by Maju Samuel)