Bed Bath & Beyond's Assets Go To Overstock.com In Winning Auction Bid: CNBC

Overstock.com OSTK has won an auction for the intellectual property and digital assets of the failed home goods retailer Bed Bath & Beyond BBBYQ, according to court records, CNBC reports.

Winning the Auction

Overstock.com, the e-commerce discounter, was selected as the stalking horse bidder for Bed Bath’s bankruptcy-run auction. The company will buy the chain’s brand name, business data, and digital assets for $21.5 million. The deal does not include keeping Bed Bath’s stores open.

Backup Bidders

JOWA Brands was selected as a backup bidder solely for Bed Bath’s Wamsutta brand, a private sheets and towels label owned by the retailer. Ten Twenty-Four, a software company that helps owners maximize vacation rental revenues, was chosen as the backup-bidder for the retailer’s Beyond.com asset.

Separate Sale Process for Buy Buy Baby

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

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