Daily Newsletter

15 June 2023

Daily Newsletter

15 June 2023

Overstock.com offers $21.5M for Bed Bath & Beyond’s assets

Overstock.com’s offer will set the floor for a bankruptcy-run auction that is expected to take place on June 21.

Mohamed Dabo June 14 2023

Overstock.com’s stalking horse bid – which will set the floor at the expected bankruptcy-run auction – also includes the business internet and mobile properties and all business data / Credit: Monticello via Shutterstock

Bed Bath & Beyond's intellectual property, internet and mobile properties, and business data are part of the $21.5m bid made by online retailer Overstock.com.

However, the offer does not include the Bed Bath & Beyond and Buy Buy Baby store locations, which are currently running going-out-of-business sales.

Competing bids due by Friday

Friday marks the deadline for competing bids in the bankruptcy-run auction. Overstock.com's offer will set the minimum price for the auction, which is scheduled to take place on June 21.

Bed Bath & Beyond's stores not part of the offer

The bid made by Overstock.com does not include Bed Bath & Beyond's physical store locations. The retailer, which sought chapter 11 protection in April, had 360 Bed Bath & Beyond stores and 120 Buy Buy Baby locations that were open when it filed for bankruptcy.

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