Overstock.com Acquires Bed Bath & Beyond Brand for $21.5 Million

Overstock.com won an auction to buy Bed Bath & Beyond's intellectual property and digital assets for $21.5 million.
The deal does not include Bed Bath & Beyond's physical stores which will close by the end of June 2023.
Bed Bath & Beyond filed for Chapter 11 bankruptcy in April due to declining sales and share prices.
Backup bidders were selected for certain Bed Bath & Beyond brands like Wamsutta and Buy Buy Baby which is being sold separately.
The sale is pending approval in bankruptcy court on Tuesday.