Buy Buy Baby Saved In Cherry Hill? Baby Goods Supplier Buys Lease: Report

CHERRY HILL, NJ — Buy Buy Baby might not go bye-bye just yet. A company that bought Buy Buy Baby's intellectual property has also acquired 11 of its leases, including the Cherry Hill space, according to CNBC.

Dream On Me Industries — a longtime supplier of baby goods for Buy Buy Baby — bought the leases Wednesday at a bankruptcy-run auction for about $1.17 million, CNBC reports. Buy Buy Baby — owned by Bed Bath & Beyond — was set to close all stores after failing to find a buyer earlier this month. Read more: Another Major NJ Retailer Closing All NJ Stores

Eight Buy Buy Baby in New Jersey remain open as of Monday. Dream On Me bought the leases for four of them — in Cherry Hill, Bridgewater, Woodbridge Township and Paramus — along with two leases in New York and others in Delaware, Connecticut, Massachusetts, Maryland and Virginia, CNBC reports.

It's unclear what New Jersey-based Dream On Me plans to do with those stores, but CNBC says it's possible the company could attempt to revive the chain. Buy Buy Baby is months into liquidation sales. So if Dream On Me opted to reopen stores, they'd likely need to temporarily close locations in order to restock, the media outlet reports.

Bed Bath & Beyond, which is headquartered in Union, filed for Chapter 11 bankruptcy protection on April 23, listing its estimated assets and liabilities at a value of up to $10 billion. Discounted sales have been going on since late April at 360 Bed Bath and Beyond stores around the country, including the stores remaining in New Jersey.

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.

Dream On Me — headquartered in Somerset — doesn't have a brick-and-mortar presence. The company sells its goods through several prominent retail partners, including Amazon, Burlington, Kohl's, Target, The Home Depot and Walmart.

Cherry Hill's Buy Buy Baby is located at 1590 Kings Highway N, in the Ellisburg Circle Shopping Center.

Read CNBC's full report.