Bath Bath & Beyond already returns, but there is a catch
The retailer's assets have just been acquired by another large company.
Do not call it a return. In January, Bed Bath & Beyond warned that he had it " substantial doubt "About his future thanks to the debts he could not pay, and in April, the company Bankruptcy declared And announced that he would close all of his stores. But while the slow drop seemed to reach its inevitable end point, the brand is now preparing for a surprising return - with a catch, of course. Read the rest to find out how you can start shopping at Bed Bath and beyond.
Read this then: Bath Bath & Beyond Shopper Slams "Scam" Closing sales: "Dollar Tree Vibes".
Bed Bath & Beyond is currently losing fences in its stores.
At the end of April, Bed Bath & Beyond Inc. announced that he had deposited for Chapter 11 bankruptcy Before the American district court of New Jersey, and would close completely accordingly.
"Thank you to all our loyal customers. We have made the difficult decision to start reducing our operations", the home page of Bath & Beyond website States.
At the time of its file, the company still had 475 brick and mortar stores in the United States. for the customers.
"We encourage you to buy our stores regularly while new goods continue to arrive at locations in the United States and the Markdowns continue to develop", retailers FAQ section Read. "All goods are on sale and currently up to 50% reduction. Everything must go!"
It may not be the end, however, at least not from the bed bath and beyond the name.
Overstock has now acquired the brand.
Since Bed Bath & Beyond announced its closing plans, companies fight to capitalize On what the retailer leaves behind him, whether by signing leases on his old retail spaces or accepting his coupons expired by customers, The New York Times reported.
Now is the brand name. June 22, judicial deposits revealed that Overstock.com had won the right To acquire the assets of Bed Bath & Beyond - including the name, according to the Nyt . AE0FCC31AE342FD3A1346EBB1F342FCB
The online furniture market had submitted $ 21.5 million to obtain the intellectual property of the retailer, commercial data, rights on mobile applications and certain contracts, Julie Strider , a spokesperson for Bed Bath & Beyond, told Nyt in a report.
"After the completion of the auction process approved by the court and in consultation with the Official Committee of Unmarked Creditors, Bed Bath & Beyond Inc. selected a proposal from Overstock.com as a winning tenderer," said Strider .
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The company plans to rename as Bath Bath & Beyond.
The company based on online furniture is Plan to retire The name and change of brand Overstock.com as a bed bath and beyond after having acquired the assets of the retailer, reported the Associated Press. CEO of Overstock Jonathan Johnson The media said that the company could consider completely changing its business name to Bed Bath & Beyond also, but is not yet ready to make this decision.
"This acquisition is an important and transformative step for us," said Johnson in a June 28 Press release declaration . "Bed Bath & Beyond is an emblematic brand of consumption, well known in the retail market. The accelerated growth company for market share."
Better life contacted the bedbet and beyond and overflow on the acquisition and change of brand, but has not yet heard.
The brand will only exist in line.
However, this change of brand will not bring back the stores of Bed Bath & Beyond to buyers. As Reuters explained, Overstock chose do not bid On the remaining locations or stocks of the retailer, which suits you to remain an online retailer only, with a new name (but familiar).
"An opportunity arose in bankruptcy to obtain the pieces we loved and not having overwhelmed them by the things we did not like," Johnson told Reuters. "We have liked the bed bath and beyond the name for a long time, but we do not like stores, the inventory, so don't expect the stores of us."
The online transformation will start in Canada because Overstock will revive the Bath Bath & Beyond over next week, according to its release on June 28. Then, in August, the company will revive its website and its mobile application under the name of Bed Bath & Beyond in the United States, reported AP. If you visit Overstock.com after that, you will be automatically redirected to Bedbathandbeyond.com.
"The combination of the strong points of the operational model from the outside and the Bed Bath & Beyond will create a powerful synergy," said Johnson in his statement. "I am delighted that consumers discover the new bed bath and a larger and better beyond."
