Online-only retailer Overstock.com is offering $21.5 million for the intellectual property of Bed Bath & Beyond, which is currently liquidating in Chapter 11.
Also known as a stalking horse bid, Overstock’s offer sets the minimum threshold for any additional bids, which must be submitted by noon on Friday to the U.S. Bankruptcy Court for the District of New Jersey. An auction, if needed, is set for 10 a.m. on June 21.
According to a court document filed Tuesday, Overstock wants Bed Bath & Beyond’s internet properties, mobile platforms, business data, and its trademarks and intellectual property. But the offer does not include any of Bed Bath & Beyond’s stores.
Source: RetailDive
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