Beleaguered David's Bridal may escape the fate of Bed Bath & Beyond and Buy Buy Baby.

A New York-based firm, CION Investment, has successfully bid for some of the assets of the retailer, the nation's largest bridal-apparel chain. The deal would reportedly keep nearly 200 of roughly 300 David's Bridal stores open and save thousands of jobs.

Creditors and landlords had until the end of the day on Monday to submit any objections to CION's going-concern bid in U.S. Bankruptcy Court, where David's Bridal filed for Chapter 11 protection in April. Amid those proceedings, the retailer's headquarters at 1001 Washington St. in Conshohocken, Pennsylvania, has been put on the block.

So far this year, home-goods seller Bed Bath & Beyond, based in Union, New Jersey, has become the poster child for failed retailers. Both the banner chain and its baby-goods seller, Buy Buy Baby, are being liquidated after failing to find buyers after filing for Chapter 11. But it's not alone. Similarly, Christmas Tree Shops is on its way out of business after it filed for bankruptcy protection, and Tuesday Morning is shuttering its stores.

The possible rescue of David's Bridal "is good news for companies looking to file for Chapter 11," demonstrating that solutions can be worked out and retailers can emerge from the process and survive, Bill Read, an executive vice president at Retail Specialists, told CoStar News. He added that Party City, which filed for Chapter 11 in January, also appears to be headed to continuing operations.

CION didn't respond to emails seeking comment on Monday.

But David's Bridal, which also filed for bankruptcy in 2018, supplied a statement.

"We received a going-concern bid from CION Investment Corp., and while we still have much work to do in order to proceed with seeking approval, and as nothing is certain, this could potentially be a great outcome for David’s Bridal," the retailer said. "This bid, if approved, would provide new money to support a go-forward David’s Bridal with up to 195 stores. Our discussions continue to focus on this opportunity."

CION's bid needs to be approved by the bankruptcy court at a July 14 hearing. Details of CION's bid, such as the price it was offering, weren't provided in court filings.

CION, which is publicly traded, has $1.9 billion in assets. Only 3.4% of its holdings are allocated to retail, according to its website. It describes itself as a business development company that primarily provides senior secured loans to U.S. middle-market companies.

In early, June A&G Real Estate Partners said it was accepting bids for 49 David's Bridal stores, adding that it was also looking to hold a July bankruptcy auction for an additional group of leases, possibly as many as 229. The July proceeding was canceled last week because of CION's big bid.

In an updated marketing brochure, A&G said it is now auctioning 44 David's Bridal leases across the United States. Bids for those store leases were due last week, and the auction will be held Thursday.

The building where David's Bridal has had its headquarters in Conshohocken is being sold, with JLL acting as the broker. On its website, JLL described the property as a two-story, 74,078-square-foot "Class A vacant office building located in one of the most highly regarded office locations in the greater Philadelphia region."

As the site is being offered vacant, it presents "a rare opportunity for a user or an investor to acquire a unique property in the highly desirable location of Conshohocken, with the opportunity to add value through the repositioning of the existing property or redeveloping the property into multifamily or mixed-use," according to JLL.