After opting to run a separate bankruptcy auction of its Buybuy Baby chain, Bed Bath & Beyond is reportedly splitting the process into two phases.

Citing sources familiar with the Union-based retailer’s plans, CNBC reported that only bids for the baby-focused banner’s intellectual property – including its trademark and domain – were accepted for a June 28 scheduled auction.

A second auction for buyers to submit bids to keep Buybuy Baby’s brick-and-mortar stores running as a going concern will also be held, the outlet reported.

Bed Bath & Beyond did not immediately respond to a request for comment.

Buybuy Baby – which was launched in 1996 by the sons of Bed Bath & Beyond co-founder Leonard Feinstein – has attracted interest from retail investment firms Sixth Street Partners and Go Global Retail, according to media reports.

What’s beyond for Bed Bath?

Earlier this week, a U.S. bankruptcy judge in Newark approved e-commerce site Overstock.com’s all-cash $21.5 million bid for some of Bed Bath & Beyond’s assets.

As part of the deal, Overstock will shut remaining stores and take ownership of the bankrupt home good chain’s name, intellectual property and digital platforms.

The sale comes two months after the once-storied brand filed for bankruptcy protection and immediately began liquidating its 360 namesake stores and 120 Buybuy Baby locations nationwide.

In a statement following the auction, Overstock Chief Executive Officer Jonathan Johnson said, “This acquisition is a significant and transformative step for us. Bed Bath & Beyond is an iconic consumer brand, well-known in the home retail marketplace. The combination of our winning asset-light business model and the high awareness and loyalty of the Bed Bath & Beyond brand will improve the customer experience and position the company for accelerated market share growth.”

Overstock said it will debut a new Bed Bath & Beyond website in Canada within the next week, followed a few weeks later by the relaunch of a refreshed website, mobile app and loyalty program in the U.S.