Bed Bath & Beyond’s retail stores are not part of the potential deal valued at $21.5 million.
Online retailer Overstock.com has made an offer to buy the intellectual property of Bed Bath & Beyond. The offer was sent to the retailer, which also owns the Buy Buy Baby chain and is currently going through a liquidation phase of the business.
Bed Bath & Beyond’s retail stores are not part of the potential deal valued at $21.5 million. A bankruptcy intellectual property auction is scheduled for June 21.
The owners of Bed Bath & Beyond are currently exploring other offers to buy their assets. Bids are due by June 16.
It is also known that the Buy Buy Baby chain, which has a more positive operating record for the market, is likely to attract the attention of potential buyers.
Bed Bath & Beyond filed for Chapter 11 protection in April after months of failed exit attempts and bankruptcy warnings. The retailer has 360 Bed Bath & Beyond stores and 120 Buy Buy Baby stores under management as of the second quarter of 2023.
Overstock had acquired Bed Bath's intellectual property and digital assets for $21.5 million.
The company has received a commitment of $240 million in debtor-in-possession financing.
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