Ohio Stores on Verge of Closure Find New Hope with Investor Stepping In

Could five retail stores in Ohio be saved from closing?

There could be some good news for customers of the baby retail chain buybuy Baby.

The chain of stores sells clothing, strollers, and other items for use with infants and young children and is owned by retailer Bed Bath & Beyond, which has filed for bankruptcy.

Both chains were expected to cease operations and stores close by June 30. However, there has been news this week of at least two potential bidders looking to buy the brand.

According to CNBC:

One of the bidders is "Babylist, a direct-to-consumer baby registry website that wants to buy its trademark and domain." Babylist describes itself as "the leading vertical marketplace and commerce destination for baby, driving purchase decisions for more than 9 million people each year."

While Babylist has come forward as a buyer, the identity of the second bidder has yet to be revealed.

Ankura Capital Advisors, an investment banking firm, represents the second buyer, an " independent operator with several successful, complimentary retail chains in their portfolio."

If the second buyer were successful, "75% of the 120 buybuy baby stores across the nation will remain open."

This provides hope that the retail chain could be saved.

Ohio has five buybuy Baby stores, some of which could remain open should this new acquisition be approved. This would be great news for the retail industry, which has been impacted by store closures this year.

List of buybuy BABY stores in Ohio

While there is some interest in acquiring the baby retail business, there do not appear to be any suitors for Bed Bath & Beyond at this stage.

As a result, all 360 Bed Bath & Beyond stores would close if no buyer came forward.

Your thoughts

Would you like to see buybuy Baby stores remain open? Do you believe keeping brick-and-mortar stores open for those who don't like buying online is important? Would you like to see financial incentives offered to keep stores open and retail staff employed?

Please leave your thoughts in the comment section below and share this article with others so more people can join the discussion.