Overstock.com buys Bed, Bath, ands Beyond
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When you go to overstock.com, it now forwards the URL to bedbathandbeyound.com. The company bought out the former Bed Bath and Beyond franchise for $21.5 million,
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According to FoxBusiness.com:
Overstock.com, which acquired the bankrupt retail chain’s intellectual property assets for $21.5 million, officially relaunched Tuesday as BedBathandBeyond.com in the United States, reviving what CEO Jonathan Johnson said is still an “iconic, beloved brand.”
According to Johnson, the revamped e-commerce site has 600,000 new products, many of them brand names in the kitchen, bed and bath categories, and they are less expensive than before.
Setting aside Bed, Bath & Beyond’s financial troubles, Johnson saw tremendous potential in combining the best parts of the beleaguered company, which filed for bankruptcy earlier this year after numerous failed turnaround plans, and Overstock to create an even better asset-light, e-commerce retailer with an expanded home furnishing and furniture assortment.
Johnson said suppliers are already “banging down the door” to do business with the company.
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