NEW YORK — Bed & Bath & Beyond will live on, online at least, after Overstock.com obtained the insolvent retail chain’s intellectual home possessions for $21.5 million.
The online merchant Overstock.com is disposing its name online and will endupbeing Bed & Bath & Beyond, which stated insolvency earlier this year. Overstock.com’s CEO Jonathan Johnson informed The Associated Press in a phone interview on Thursday that the business is thinkingabout altering its business name however won’t make any choices till after it absorbs the properties.
The switcheroo to a really identifiable brandname was cheered on Wall Street. Shares of Overstock.com Inc., based in Midvale, Utah, skyrocketed almost 20% throughout afternoon trading Thursday.
The offer doesn’t consistof Bed Bath & Beyond shops, the last of which are anticipated to be shuttered Friday, or the Buybuy Baby chain.
The name modification will roll out in Canada next month and in August, a relaunch of the business’s site and mobile app as Bed Bath & Beyond will appear in the U.S. Those visiting overstock.com will be redirected to bedbathandbeyond.com.
The name