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Bed Bath & Beyond emerges from bankruptcy, making a digital comeback after being acquired by Overstock.com. The online retailer purchased the big-box chain's intellectual property and digital assets for $21.5 million, relaunching it as a renewed online platform.
Bed Bath & Beyond already shut down its physical stores due to bankruptcy, and with the new owner of its branding, its online store earned another chance to operate again. A U.S. court approved the acquisition deal, and now Overstock.com has re-opened the web store platform under the iconic retailer’s name.
CNN Business reported that just a month after Overstock.com confirmed it acquired Bed Bath & Beyond’s brand out of bankruptcy, it ditched its name and slowly transformed its website and app. After the process, the company relaunched its website as BedBathandBeyond.com and products were reorganized under each category.
The company is welcoming its customers with special discount offerings such as an extra price cut of 15% to 20% for bath, furniture, and bedding purchases. Overstock.com also said the site is now bigger and better.
“All of Overstock’s categories will transition over and new products will also come in,” Jonathan Johnson, the chief executive officer of Overstock, told CNN in an interview. “Since this deal was announced, we have added over 600,000 new products to the site. It will have the same great bed, bath, and kitchen items but it will also have a much bigger beyond.”
The CEO added that most new products are items and brands people always buy at Bed Bath & Beyond. Customers will find home furnishings, lighting, furniture, and more, and they are available today at discounted prices. Overstock.com also expanded its product line to include small appliances, cookware, and linens.
Finally, as per NBC News, shoppers at the new Bed Bath & Beyond online store may also get up to $50 of loyalty reward points which the company brought back from the old BBB customer accounts. Various other perks await members of Overstock’s loyalty program, Club O. Their accounts will be transferred to the new program under the BBB banner.
Photo by: Bed Bath & Beyond Website
