Overstock was officially relaunched after purchasing the bankrupt company’s intellectual property.
New York • Overstock officially brought the Bed Bath & Beyond domain back online in the US on Tuesday, after the company acquired the bankrupt retail chain’s intellectual property for $21.5 million in June.
Online retailer Overstock.com announced in late June that it was ditching its online name and becoming Bed & Bath & Beyond, which filed for bankruptcy earlier in the year. The name change was made in Canada on June 29, but at the time the Midvale, Utah-based company didn’t specify a date for the US relaunch.
Overstock.com CEO Jonathan Johnson said in a phone interview with the Associated Press last week that the relaunch in Canada went “without a hitch.” The company has added about 600,000 bed and bath items since its listing for the retailer went public last month, Johnson said.
The company has not yet made any decisions on a company name, he said.
Johnson had said the name change was necessary because Overstock still confuses some customers and suppliers who thought it was a liquidator. This is how the company started in 1999. In 2004, it became a general merchandise retailer selling a wide variety of items. In 2021, Overstock refined its strategy to focus on furniture and home décor and phase out items like clothing.