Bed Bath & Beyond will live on. The brand, that is, not the stores. The retailer’s name, intellectual property and digital assets were purchased by Overstock.com for $21.5 million, according to court documents released Thursday. However, the deal won’t keep its stores open, which are currently closing after Bed Bath & Beyond filed for bankruptcy in April. Overstock’s bid was the first and ultimately the most lucrative for Bed Bath & Beyond’s assets, setting the minimum price .
The buybuyBaby chain, which Bed Bath & Beyond owns, is being sold off in a separate sales process and is considered the most attractive part of the retailer’s assets. Neil Saunders, a retail analyst and managing director at GlobalData Retail, previously told CNN that the buybuyBaby business “is the one part of the operation that will probably attract interest from buyers.