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[ad_1] "Store Closing" signs at a Buy Buy Baby store in the Brooklyn borough of New York, on Monday, Feb. 6, 2023. Stephanie Keith | Bloomberg | Getty Images Bed Bath & Beyond canceled a Friday auction for its Buy Buy Baby chain because it failed to secure a buyer willing to keep its stores running – but it's not quite over for the baby retailer just yet, CNBC has learned. Bidders backed out of the auction after they determined the chain was no longer worth buying because its value had deteriorated so much , but there are parties still interested in its assets, according to two people close to the matter who weren't authorized to discuss it publicly. While it would be unusual, Bed Bath & Beyond could still accept a bid for Buy Buy Baby early next week. The chain's fate won't be definitively determined until Tuesday, when a court hearing is scheduled to approve the sale of Buy Buy Baby's intellectual property to Dream on Me Industries. The com...

[ad_1] A customer leaves a Bed, Bath and Beyond store on August 31, 2022 in Oakland, California. Justin Sullivan | Getty Images Bed Bath & Beyond wants shareholders to approve a reverse stock split at an upcoming special meeting, as the retailer keeps working to avoid filing for bankruptcy , according to a securities filing late Wednesday.  The retailer's board is calling on shareholders to approve the reverse stock split at the May 9 meeting so it can have enough shares available to raise up to $300 million in equity from a stock offering announced last week.  Bed Bath's fundraising efforts have been hampered by its dwindling stock price, which has been on a precipitous decline and has been trading under $1 for the last few weeks. Shares of Bed Bath were trading around 30 cents Thursday morning, giving the company a market value of about $132 million. The company is concerned that if the plan isn't completed, it likely won't have enough equity to pay its de...