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Digital assets of bankrupt Bed Bath& Beyond sold

On Behalf of | Aug 1, 2023 | Bankruptcy Law |

It did not take long for news to travel when Bed Bath & Beyond announced that it would close more than 350 stores. The popular home goods company has been struggling financially for some time now. Like other iconic specialty shops in Mississippi and elsewhere, such as David’s Bridal and Christmas Tree Shops, BB&B is currently navigating bankruptcy proceedings.

A recent update will make online shoppers who love BB & B products quite happy. Another online shopping company, Overstock has agreed to purchase the digital assets of Bed Bath & Beyond for more than $20 million. Once the transaction is complete, Overstock will relaunch BB&B products online. Acquisitions like this often help companies avoid having to close their doors for good.

Relaunch to occur in Canada, then the U.S.

Overstock plans to kick off its relaunch in Canada, followed by a similar launch several weeks later here in the United States. BB&B shoppers will be able to install a mobile app to get their favorite products. There will also be a rewards program and a website for shopping convenience.

Any Mississippi business currently experiencing financial problems may explore bankruptcy options by scheduling a meeting with an experienced bankruptcy attorney. These options often enable a business to remain open, either at brick-and-mortar sites or online, as in the case of Bed Bath & Beyond when another company agrees to purchase digital assets during bankruptcy proceedings.