In a move that appears to make sense from a branding perspective, Overstock.com has won an auction to purchase the intellectual property assets of Bed Bath & Beyond.
The deal, worth $21.5 million, was in a document filed Thursday in Union-based Bed Bath’s Chapter 11 bankruptcy case. The move comes nearly two months after Bed Bath filed for bankruptcy protection.
Other notes:
- Overstock will pay for Bed Bath & Beyond’s brand name, business data and digital assets;
- Bed Bath’s physical retail stores are not slated to remain open under the agreement;
- Bed Bath’s baby goods retail chain, Buy Buy Baby, is not included in the deal (those assets will be involved in an auction next Wednesday).
- Overstock’s stock increased greatly (more than 10%) in early trading Thursday, following the news.
