Big box chain Buybuy Baby may not be gone for long.

After acquiring the trademark and digital assets of Bed Bath & Beyond’s baby-focused banner for $15.5 million earlier this month, Piscataway-based baby goods retailer Dream On Me Inc. reportedly snatched up 11 of the chain’s 20 store leases put up for auction July 19.

Dream On Me – a longtime supplier to Buybuy Baby – bid $1.17 million for the properties, which include four stores in New Jersey: Bridgewater, Cherry Hill, Paramus and Woodbridge. The other retail locations are in New York, Maryland, Delaware, Massachusetts, Connecticut and Virginia, CNBC reported.

A hearing to approve the sale is scheduled for July 28 in U.S. Bankruptcy Court for the District of Newark, the venue where Bed Bath & Beyond filed for Chapter 11 protection three months prior.

It is not yet clear what Dream On Me’s plans are, but industry analysts believe the company may be well-positioned to reopen Buybuy Baby’s stores, according to CNBC. However, the chain has very little inventory leftover since liquidation sales have been ongoing for about three months. So, the outlet reported, if locations reopened under new ownership, the stores would likely need to close temporarily in order to be restocked.

A representative from Dream On Me did not immediately respond to a request for comment from NJBIZ.

Founded by Mark Serure in 1987, the company has grown to become one of the most trusted baby care brands in the U.S., selling cribs, strollers, mattresses and nursery furniture through several retail partners, such as Target and Amazon.

After receiving court approval to purchase Buybuy Baby’s intellectual property earlier this month, Serure issued a statement, saying, “The loyalty and trust that customers have in buybuy BABY is extraordinary, and we are committed to continue honoring their legacy of offering quality and solution-oriented products at parent-friendly prices.”

“The future of buybuy BABY is bright, and the team at D.O.M is committed to ensuring that buybuy BABY remains the go-to destination for all parents, caregivers, and families seeking thoughtfully designed and quality baby and child-focused products, and exceptional customer service,” Serure added.

Launched in 1996 by the sons of Bed Bath & Beyond co-founder Leonard Feinstein, Buybuy Baby was considered to the most valuable brand in the company’s portfolio. Although several parties reportedly expressed interest in keeping the chain’s stores open as a going concern, no viable bids emerged and Bed Bath & Beyond opted to seek approval of a more limited sale of Buybuy Baby’s intellectual assets to Dream On Me.

But, that company isn’t the only one in the Garden State taking advantage of Bed Bath & Beyond’s bankruptcy. South Jersey-based off-price retailer Burlington was one of the top bidders for the embattled home goods store’s vacant properties, spending $13.5 million to secure the leases to 50 stores. 

Meanwhile, Overstock won the retailer’s IP auction in June with a $21.5 million bid and plans to rebrand itself to Bed Bath & Beyond as a way to capitalize on the company’s name recognition with consumers. Since then, Overstock has debuted a new Bed Bath & Beyond website in Canada and expects to launch a refreshed online presence, mobile app and loyalty program in the U.S. soon.

As for the company’s vast brick-and-mortar footprint, Bed Bath & Beyond is in the process of auctioning off its 250 namesake stores and 120 Buybuy Baby locations.

Buybuy Baby’s potential comeback would follow the return of Babies R Us to the retail scene.

Last week, the beloved brand unveiled a new flagship store at American Dream — its first brick-and-mortar shop to open in the U.S. since its parent company, Toys R Us, filed for bankruptcy protection in 2017 and shuttered all locations across the country. After Parsippany-based Tru Kids Inc.’s unsuccessful attempt to revive the iconic chains – and subsequent closure of newly launched stores in Houston and Paramus – the brands were taken over two years ago by brand management firm WHP Global Management.