Business will change its name to Bed Bath & Beyond after buying the assets is changing its name to Bed, Bath & Beyond after buying the big-box retailer’s intangible assets in a bankruptcy auction last week.

The e-commerce giant paid $21.5 million for Bed Bath & Beyond’s website and domain name, trademarks, patents, customer database and loyalty program data, among other assets under the company’s banner. The marriage with the once-popular retailer will enable both companies to offer customers a wide selection of furniture, kitchen, bedding and bath-related products through a single online store, Overstock CEO Jonathan Johnson said.

Bed Bath & Beyond officially files for bankruptcy

“The combination of our winning asset-light business model and the high awareness and loyalty of the Bed Bath & Beyond brand will enhance the customer experience and position the company for accelerated market share growth,” Johnson said in a statement.

The company is also “evaluating whether and how to reinstate expired Welcome Rewards points,” although it will not accept expired Bed, Bath & Beyond coupons, Johnson told CBS MoneyWatch. Nevertheless, he promised good bargains on the renewed website.

“I expect customers will find better deals on our website than they would have previously found at Bed Bath & Beyond with a coupon,” Johnson said.

Overstock will relaunch Bed Bath & Beyond’s domains in both Canada and the United States, with going live within the next week, the company said. An “updated” version of the US mobile app, loyalty program and website,, will debut a few weeks later.

Overstock didn’t buy Bed Bath & Beyond’s brick-and-mortar stores, which it will closes this summer as planned.

A probate court approved Overstock’s bid for Bed Bath & Beyond’s assets at a hearing earlier this week.

Bed Bath & Beyond filed for bankruptcy in April after struggling to adjust to a increase in online shopping. Before filing for bankruptcy, the company had experienced years of declining sales.

Source link

Back to top button

mahjong slot