Another Major Retailer To Close All CA Stores

CALIFORNIA — A last-ditch effort to save Buy Buy Baby fell apart, and the company will close all its stores in California and across the U.S. as part of its bankrupt parent company's ongoing liquidation.

CNBC reported that the owner of children's apparel company Janie and Jack was "eager" to buy the Bed Bath & Beyond chain and keep it running, but could not reach a deal on its value.

There are 15 Buy Buy Baby (styled buybuy BABY) stores remaining in the Golden State. As of Thursday morning, the Elk Grove location is listed as "closed now-open after a week" on Buy Buy Baby's website.

The other 14 stores in Chula Vista, Daly City, Encinitas, Fresno, Mission Viejo, Pleasant Hill, Rancho Cucamonga, Redlands, Roseville, San Jose, Temecula, Torrance, West Hills and Yorba Linda remain open.

Buy Buy Baby's lender "determined it could recover more of its losses" by selling the chain's intellectual property and going ahead with liquidation sales. Debtors canceled an auction of the entire business last week, CNN Business reported. It is not immediately clear when stores would begin closing.

Retailer Dream on Me Industries, one of Buy Buy Baby's former suppliers, won the chain's trademark and digital assets for $15.5 million, according to CNBC. Bed Bath & Beyond failed to receive any higher bids.

Buy Buy Baby was seen as one of the retailer's more valuable assets, with several companies interested in securing at least part of the brand separately from the parent company.

Bed Bath & Beyond filed for Chapter 11 bankruptcy protection on April 23, listing its estimated assets and liabilities at a value up to $10 billion. Discounted sales have been taking place since late April at 360 Bed Bath and Beyond stores across the country, including the stores remaining in California.

Overstock.com put in a $21.5 million offer for Bed Bath & Beyond's IP in June.