Overstock.com Acquires Bankrupt Retailer, Bed Bath & Beyond
NEW YORK (AP) — Bed & Bath & Beyond will live on, online at least, after Overstock.com acquired the bankrupt retail chain’s intellectual property assets for $21.5 million.The online retailer Overstock.com is dumping its name online and will become Bed & Bath & Beyond, which declared bankruptcy earlier this year.The switcheroo to a very recognizable brand was cheered on Wall Street. Shares of Overstock.com Inc., based in Midvale, Utah, soared 20%.The deal doesn’t include Bed Bath & Beyond stores, the last of which are expected to be shuttered Friday, nor the Buybuy Baby chain.The name change will roll out in Canada next month and in August, a relaunch of the company’s website and mobile app as Bed Bath & Beyond will appear in the U.S. Those visiting ovestock.com wil...