Overstock.com wins auction for Bed Bath & Beyond's intellectual property, digital assets

Bed Bath & Beyond volition unrecorded connected successful sanction lone aft Overstock.com won an auction for the failed location goods retailer's intelligence spot and integer assets, according to court records filed aboriginal Thursday. 

The e-commerce discounter, which was selected arsenic the stalking equine bidder for Bed Bath's bankruptcy-run auction, volition bargain the chain's marque name, concern information and integer assets for $21.5 million, the records say. 

The woody does not see keeping Bed Bath's stores open. The merchantability terms is the aforesaid arsenic Overstock's stalking equine bid, which acceptable the level terms astatine the auction, indicating Bed Bath didn't person higher oregon much charismatic bids. 

JOWA Brands was selected arsenic a backup bidder solely for Bed Bath's Wamsutta brand, a backstage sheets and towels statement the retailer owns. 

Ten Twenty Four, a bundle institution that helps owners maximize abrogation rental revenues and does concern arsenic Beyond Pricing, was chosen arsenic the backup bidder for the retailer's Beyond.com asset. If the woody with Overstock falls through, Ten Twenty Four could triumph rights to the domain name. 

The merchantability inactive needs to beryllium approved astatine a proceeding connected Tuesday. 

In a uncommon move, Bed Bath chose to run a abstracted merchantability process for its Buy Buy Baby chain, considered the crown jewel of its assets. 

The abstracted process allows the institution to find a bidder consenting to support the banner's stores open, without the headache of taking connected Bed Bath's assets. 

Buy Buy Baby assets garnered interest from buyers adjacent earlier Bed Bath filed for bankruptcy successful April. 

The chain, which sells babe clothes, furnishings and different goods, has since attracted funny buyers during the merchantability process, including from prospective bidders funny successful keeping its carnal footprint alive, CNBC antecedently reported.

The auction for Buy Buy Baby's assets is slated to instrumentality spot connected Wednesday.