Up For Sale? Bed Bath & Beyond Rumored To Have Potential Buyers

Bed Bath & Beyond (BBBY) saw its share price surge over 11 percent on Thursday as news of a possible sale emerged.

According to The Deal, Bed Bath & Beyond has hired Goldman Sachs to find a potential buyer for the company as it looks to sell off pieces of the business.

The news outlet (via Motley Fool) also said that an unnamed “ex-executive” has partnered with a private equity firm, offering $250 million to buy the company’s Cost Plus World Market subsidiary in a “broad auction process.” The offer has not been confirmed by the company.

Reportedly, 1-800-Flowers and Things Remembered have shown interest in a deal worth $250 to $300 million to acquire the company’s PersonalizationMall business, which Bed Bath & Beyond has not announced or confirmed.

Oak Street Real Estate Capital has also reportedly shown interest in buying Bed Bath & Beyond’s real estate in a deal that would lease it back to the retailer, The Deal said (via Motley Fool).

Bed Bath & Beyond has had lagging sales, reporting a 6.6 percent decrease in net sales to $2.6 billion for the first quarter of fiscal 2019. The company closed 40 stores earlier in the year, after announcing its Q4 results for fiscal 2018, but said it would open 15 new locations at the time.

Shares of Bed Bath & Beyond stock were up 11.01 percent as of 9:53 a.m. ET on Friday.