Overstock.com bought the assets of bankrupt retailer Bed Bath & Beyond for $21.5 million at auction Wednesday, pending court approval that is expected to happen at a hearing Tuesday.
Bed Bath & Beyond filed for Chapter 11 bankruptcy in April, having previously closed over 400 stores over the course of 2022 into 2023, including all 50 Harmon beauty stores and a smattering of Buy Buy Baby locations.
Overstock.com now owns the name, business data, intellectual property, mobile app rights and certain contracts associated with Bed Bath & Beyond.
Overstock.com did not buy the 360 remaining physical Bed Bath & Beyond stores, which Bed Bath & Beyond plans to close by the end of the month.
“We encourage customers to come shop our store closing sales while ample inventory remains,” Bed Bath & Beyond said in a statement to USA Today.
The 120 Buy Buy Baby outlets owned by Bed Bath & Beyond are subject to a separate sales process, and are still waiting on a bidder that might be able to keep those locations open. Those assets are set to be auctioned off next week.
• Brad Matthews can be reached at bmatthews@washingtontimes.com.
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