David's Bridal CEO Jim Marcum discusses how the nation's largest wedding outfit retailer can survive bankruptcy on 'The Claman Countdown.'Burlington – formerly known as Burlington Coat Factory – nabbed 44 locations from the beleaguered retailer, which was forced to auction off its leases as part of its bankruptcy proceedings, according to documents filed in bankruptcy court in New Jersey last month.
Burlington purchased the leases, the largest share of any retailer, for $12 million, according to the filing. The company secured six other leases outside the auction process, according to separate documents. Michael's - the privately held chain of arts and crafts stores – also purchased nine locations for about $2.55 million. Furnisher company Havertys purchased four locations for nearly $470,000 and Barnes & Noble purchased one location in Concord, North Carolina, for about $130,000. An Aldi is also taking over a spot in Little Rock, Arkansas.
A store closing sign is posted on the front door of a closed Bed Bath and Beyond store on February 08, 2023 in Larkspur, California. In May, A&G Real Estate Partners, announced plans to auction hundreds of Bed Bath & Beyond and Buy Buy Baby leases after the company started its store closing sales and began winding down operations.
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