Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Business

Overstock.com wins auction for Bed Bath & Beyond’s intellectual property, digital assets

by June 24, 2023
June 24, 2023
Overstock.com wins auction for Bed Bath & Beyond’s intellectual property, digital assets

Bed Bath & Beyond will live on in name only after Overstock.com won an auction for the failed home goods retailer’s intellectual property and digital assets, according to court records filed early Thursday. 

The e-commerce discounter, which was selected as the stalking horse bidder for Bed Bath’s bankruptcy-run auction, will buy the chain’s brand name, business data and digital assets for $21.5 million, the records say. 

The deal does not include keeping Bed Bath’s stores open. The sale price is the same as Overstock’s stalking horse bid, which set the floor price at the auction, indicating Bed Bath didn’t receive higher or more attractive bids. 

JOWA Brands was selected as a backup bidder solely for Bed Bath’s Wamsutta brand, a private sheets and towels label the retailer owns. 

Ten Twenty Four, a software company that helps owners maximize vacation rental revenues and does business as Beyond Pricing, was chosen as the backup bidder for the retailer’s Beyond.com asset. If the deal with Overstock falls through, Ten Twenty Four could win rights to the domain name. 

The sale still needs to be approved at a hearing on Tuesday. 

In a rare move, Bed Bath chose to run a separate sale process for its Buy Buy Baby chain, considered the crown jewel of its assets. 

The separate process allows the company to find a bidder willing to keep the banner’s stores open, without the headache of taking on Bed Bath’s assets. 

More from CNBC

Intel stock drops 6% as company updates chip manufacturing plans Musk picks Vegas for Zuckerberg ‘cage match’ challenge Why GM is sunsetting the classic Chevrolet Camaro

Buy Buy Baby assets garnered interest from buyers even before Bed Bath filed for bankruptcy in April. 

The chain, which sells baby clothes, furniture and other goods, has since attracted interested buyers during the sale process, including from prospective bidders interested in keeping its physical footprint alive, CNBC previously reported.

The auction for Buy Buy Baby’s assets is slated to take place on Wednesday.

This post appeared first on NBC NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Honda recalls 1.2 million U.S. vehicles for rear camera issue
next post
Nickel and Lithium Targets Identified at 14 Mile Well

Related Posts

Walmart is laying off and relocating hundreds of...

May 16, 2024

Sony and Apollo send letter expressing interest in...

May 4, 2024

Frontier CEO urges crackdown on ‘rampant abuse’ of...

May 24, 2024

Why Chappell Roan and other artists find themselves...

February 9, 2025

Weekly mortgage demand drops to three-month low as...

May 30, 2024

Kraft Heinz to remove artificial dyes from U.S....

June 18, 2025

Hatch Baby recalls 919,000 power adapters on Rest...

July 4, 2024

OpenAI employees threaten to quit en masse after...

November 21, 2023

Thanks to lower inflation, Americans are finally getting...

July 13, 2023

Pending home sales drop to a record low,...

December 3, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Joe Rabil’s Undercut & Rally Pattern: From DROP to POP

    • RRG Alert Tech Vaults to ‘Leading’—Is XLK Signaling a New Rally?

    • Coelacanth Energy

    • Jeffrey Christian: Gold, Silver, PGMs — Short-term Prices and Key Drivers

    • Ericsson, Rogers Launch Canada’s First Underground 5G Network for Smart Mining

    • Crypto Market Recap: Bitcoin Price Stalls as Fed Holds Rates Steady, Circle Shares Jump

    Categories

    • Business (1,259)
    • Investing (2,583)
    • Politics (3,699)
    • Stocks (1,669)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved