Bed Bath & Beyond, a Bankrupt Retailer, Acquired by Overstock.com

NEW YORK (AP) — Bed & Bath & Beyond will continue to exist online after Overstock.com purchased the bankrupt retail chain’s intellectual property assets for $21.5 million.The online retailer Overstock.com is rebranding itself as Bed & Bath & Beyond, following the bankruptcy of the latter earlier this year. On Wall Street, this change to a well-known brand was met with enthusiasm, causing shares of Overstock.com Inc. to increase by 20%.This deal does not include Bed Bath & Beyond’s physical stores, which are expected to close their doors on Friday, or the Buybuy Baby chain. The name change will take effect in Canada next month, and in August, the company’s website and mobile app will be relaunched as Bed Bath & Beyond in the U.S. Visitors to ovestock.com will be redirected to bedbathandbeyond.com.“Combining the strengths of the Overstock operational model and the Bed Bath & Beyond brand will create a powerful synergy,” said Overstock.com’s CEO Jonathan Johnson in a statement. “I’m excited for consumers to experience the new Bed Bath and an even bigger and better Beyond.”Bed Bath & Beyond, known for its wide selection of products such as sheets, towels, and kitchen gadgets, filed for bankruptcy protection in April. This came after years of declining sales and several unsuccessful attempts to revive the struggling business.= !function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n; n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)}(window,document,’script’,’https://connect.facebook.net/en_US/fbevents.js’); fbq(‘init’, ‘1621685564716533’); fbq(‘track’, “PageView”); var _fbPartnerID = null; if (_fbPartnerID !== null) { fbq(‘init’, _fbPartnerID + ”); fbq(‘track’, “PageView”); }

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