Overstock.com won its $21.5 million bid for Bed Bath & Beyond’s name, intellectual property and digital assets, according to court documents. The deal didn’t include the bankrupt retailer’s physical footprint, and all stores will still wind down and close.
Software company Ten Twenty Four also placed a bid for the Beyond.com domain and will purchase it if Overstock’s deal falls through. A hearing is set for June 27 to finalize the deal.
BuyBuy Baby will be sold off in a separate auction scheduled for June 28. At least two companies, including DTC baby registry website Babylist and Global Retail, the private investment parent of Janie and Jack, have expressed interest in acquiring the retailer. However, neither has officially placed a bid.
While Bed Bath & Beyond will no longer operate brick-and-mortar stores, it may join several other fallen retailers that found a second life as digital brands in recent years. Retail Ecommerce Ventures in particular has built a sizable retail portfolio through this approach with the ecommerce-only resurrection of brands including Modell’s, Pier 1, Dressbarn and Stein Mart.