Retail news
Overstock.com acquires Bed Bath & Beyond's name and digital assets
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George AndersonOverstock.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.
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.
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.