Overstock.com has successfully acquired Bed Bath & Beyond’s brand name, intellectual property, and ecommerce platform for a total of $21.5 million. The purchase was approved by a US bankruptcy judge, Vincent Papalia, who expressed satisfaction at finding a bidder that would preserve Bed Bath & Beyond’s brand. This acquisition allows Overstock to relaunch the Bed Bath & Beyond domain in Canada within a week, followed by a refreshed website, mobile app, and loyalty program in the US a few weeks later.
Bed Bath & Beyond had filed for Chapter 11 bankruptcy protection in April due to declining sales and an unsuccessful merchandising strategy, leading to the decision to sell its intellectual property. However, the sale does not include their physical stores and inventory.
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