Overstock.com purchased the property of bankrupt retailer Bed Bath & Beyond for $21.5 million at public sale Wednesday, pending courtroom approval that’s anticipated to occur at a listening to Tuesday.
Bed Bath & Beyond filed for Chapter 11 chapter in April, having beforehand closed over 400 shops over the course of 2022 into 2023, together with all 50 Harmon magnificence shops and a smattering of Buy Buy Baby places.
Overstock.com now owns the identify, enterprise knowledge, mental property, cellular app rights and sure contracts related to Bed Bath & Beyond.
Overstock.com didn’t purchase the 360 remaining bodily Bed Bath & Beyond shops, which Bed Bath & Beyond plans to shut by the tip of the month.
“We encourage customers to come shop our store closing sales while ample inventory remains,” Bed Bath & Beyond mentioned in a press release to USA Today.
The 120 Buy Buy Baby shops owned by Bed Bath & Beyond are topic to a separate gross sales course of, and are nonetheless ready on a bidder which may be capable to hold these places open. Those property are set to be auctioned off subsequent week.
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