Overstock.com acquires Bed Bath & Beyond’s name and digital assets
June 22, 2023
CNBC
Overstock.com has acquired Bed Bath & Beyond’s intellectual property and digital assets for $21.5 million during a bankruptcy auction. Bed Bath & Beyond is holding a separate auction for its Buy Buy Baby business next week.
Bed Bath and Beyond Closing
This development is the only way that the Bed Bath & Beyond brand might be able to continue, if Overstock decides to do so. Furthermore, Overstock’s bid does not include keeping any Bed Batch & Beyond brick and mortar locations open.
After this bid set the floor price at the auction, there were no more follow up bids.
As a result of this purchase, Overstock’s shares have increased by approximately 8%.
Buy Buy Baby is still up for bids, and there was plenty of interest for the brand even before the announcement of Bed Bath & Beyond’s bankruptcy.
With all Bed Bath & Beyond stores closing, it proves that every retail brand out there is vulnerable, especially during uncertain economic and financial times.
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