July 11, 2023

Although a final date hasn’t been announced for the closing of the Sioux Falls store of Bed Bath & Beyond, the end is near.

The bankrupt national retailer’s name, however, will live on. Bed Bath & Beyond has sold its name, customer data and online assets to Overstock.com for $21.5 million. In addition, the bankruptcy court today is expected to approval Dream on Me Industries’ bid for the BuyBuy Baby and Harmon intellectual property.

“This acquisition is a significant and transformative step for us,” Overstock CEO Jonathan Johnson said in a news release after the court approved the sale in late June. “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.”

Overstock, which sells home furnishings and decor online, will rebrand as Bed Bath & Beyond. It already has launched online in Canada and is in the process of relaunching bedbathandbeyond.com. That’s expected to happen in August.

The company did not bid on Bed Bath & Beyond’s retail locations or inventory.

“An opportunity arose in bankruptcy to get the pieces that we loved and not have them burdened by the things we didn’t like,” Johnson said in an interview with Reuters. “We’ve long liked the Bed Bath & Beyond name, but we didn’t like the stores, the inventory, so don’t expect stores from us.”

Bed Bath & Beyond’s location in Sioux Falls at The Empire East is leased. Merchandise is marked at 50 percent to 75 percent off, and fixtures are for sale. While the majority of the shelves are empty, signs indicate that new merchandise is “arriving daily.”

Bed Bath & Beyond to liquidate all stores, files for bankruptcy