👶 Efforts to keep beloved baby retailer open have failed

😔 All stores will now close nationwide, including 8 in NJ

⤵ Bankruptcy completes epic collapse of once-dominant retailer

A last-ditch effort to save the Buy Buy Baby franchise has failed and the stores will now all close.

Franchise owner Bed Bath & Beyond began bankruptcy liquidation sales three months ago, but there was still hope a buyer for the chain could be fund that would keep the stores open.

Go Global Retail, a brand management firm that also owns the Janie and Jack apparel company had put in a bid for Buy Buy Baby with the intention of keeping the stores open.

However, during a bankruptcy proceeding in Newark on Tuesday it was learned the financing package was just not there.

Bed Bath Beyond owned store Harmon in Brick NJ (Google Maps)
buybuy BABY store West Long Branch, NJ (Google Maps)

Ultimately, a judge approved a competing bid from New Jersey-based retailer Dream On Me Industries. They will pay $15.5 million for Buy Buy Baby's trademark and digital assets only.

Dream On Me had been one of Bed Bath and Beyond's suppliers.

A lawyer for Bed Bath & Beyond told CNBC it was “unfortunate” they weren’t able to secure a buyer and confirmed all 120 stores nationwide would close.

Buy Buy Baby has eight locations in New Jersey.

The New Jersey-based Bed Bath and Beyond split bankruptcy filings to sell Buy Buy Baby as a separate entity, hoping to find a buyer that would keep the physical stores open.

Bed Bath Beyond owned store Harmon in Totowa NJ (Google Maps)
buybuy BABY store next to Bed Bath Beyond in Totowa, NJ (Google Maps)

In July, online retailer Overstock.com purchased the Bed Bath and Beyond name and will rebrand itself with the name of the once enormously popular franchise.

Overstock did not purchase any of the physical Bed Bath and Beyond stores and does not plan to operate any brick-and-mortar locations.

NJ Restaurants Featured on The Food Network That Are Now CLOSED

I did a little research and found out that these once "seen on tv" restaurants aren't open anymore.

LOOK: Baby boomer baby names that have gone out of style

Using info from the Social Security Administration's baby name database, Stacker compiled a list of baby boomer baby names that have declined in popularity.

LOOK: These Are the 50 biggest retailers in America

Stacker compiled a list of the 50 biggest retailers in the country, using retail sales data from Kantar, provided by the National Retail Federation.

Report a correction 👈 | 👉 Contact our newsroom

More From New Jersey 101.5 FM