Bed, Bath & Beyond is relaunching online in Canada – National | 24CA News
Bed, Bath & Beyond is relaunching on-line in Canada.
Overstock, a U.S. on-line furnishings retailer, has acquired the mental property and a few digital belongings of the model and the relaunch might be out there for Canadians throughout the week, the corporate introduced in a press launch.
A refurbished web site, cell app and loyalty program for U.S. clients might be launched throughout the subsequent few weeks. The acquisition happened underneath a chapter court-supervised course of.
In April, Bed Bath & Beyond filed for Chapter 11 chapter safety after the New Jersey-based retailer did not safe funds to remain afloat.
“This acquisition is a significant and transformative step for us,” mentioned Overstock CEO Jonathan Johnson.
“Bed Bath & Beyond is an iconic consumer brand, well-known in the home retail marketplace. The combination of our winning asset-light business model and the high awareness and loyalty of the Bed Bath & Beyond brand will improve the customer experience and position the Company for accelerated market share growth.”
The Bed Bath & Beyond belongings acquired embrace web site and domains, emblems, tradenames, patents, buyer database, loyalty program knowledge and different model belongings associated to the Bed Bath & Beyond banner.
The U.S. Bankruptcy Court for the District of New Jersey authorised Overstock’s successful bid at a sale listening to on Tuesday.
The brick-and-mortar operations of Bed, Bath & Beyond Inc. are usually not included within the deal, that means the bodily shops received’t be reopening at the same time as the net model comes again to life.
“Combining the strengths of the Overstock operational model and the Bed Bath & Beyond brand will create a powerful synergy,” Johnson mentioned.
“I’m excited for consumers to experience the new Bed Bath and an even bigger and better Beyond.”
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