Overstock.com has won the auction to buy some of Bed Bath & Beyond’s assets, a Thursday court filing shows. The online-only retailer will pay $21.5 million for some of Bed Bath & Beyond’s intellectual property. Bed Bath & Beyond filed for Chapter 11 in April and is attempting to liquidate all its assets.
The successful bid gives Overstock ownership of Bed Bath & Beyond’s internet properties, social media, mobile platforms, business data, publicity rights and trademarks. Overstock also agreed to assume some contract liabilities. But the deal does not include any brick-and-mortar stores.
Overstock had submitted a stalking horse bid for the same price for those specific assets last week. A judge is scheduled to OK the sale on Tuesday in federal bankruptcy court in New Jersey.Retail Dive