Bed Bath & Beyond IP could get snapped up by major e-comm retailer

NEW YORK – The bidding deadline is just eight days away, and talks are reportedly focusing in on both Bed Bath & Beyond and its Buybuy Baby subsidiary.

What’s new? Overstock, which sources told the Wall Street Journal is interested in Bed Bath & Beyond’s intellectual property.

Last year, Overstock phased out of all non-home categories and has repositioned itself as a purveyor of home furnishings and furniture at low prices. The online giant has struggled to remain growth following the pandemic-era e-comm boom. Its first quarter sales tumbled 29%, with orders dropping 29% and active customers declining 35%.

If Overstock moves to acquire Bed Bath & Beyond, it would not keep the store base going. All BBB stores that haven’t already closed are in the process of doing so.

Should the Overstock scenario unfold, it would have a touch of historical irony. In 2018, then-CEO Patrick Byrne told investors the best path forward for the company’s e-tail business was to be acquired by an established bricks-and-mortar retailer “that maybe has not gotten its own digital efforts quite where they want them.” At the time, industry watchers speculated that Bed Bath & Beyond would be a good match.

Nothing further came of the idea. Byrne stepped down in 2019 following controversy around the FBI’s investigation into Russian involvement in the 2016 presidential campaign.

Real estate investment firm Go Global Retail has been identified as a serious bidder for BBB’s Buybuy Baby business, the WSJ reported. Its properties include the 110-store Janie and Jack childrenswear brand and ModCloth, the digitally native womenswear brand it acquired from Walmart in 2020.

Bed Bath & Beyond filed Chapter 11 bankruptcy in April  and immediately began winding down its operations.

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