Bed Bath & Beyond relaunches online following bankruptcy
Bed Bath & Beyond has risen from the grave.
The bankrupt home goods retailer was relaunched as an online store on Tuesday, a month after it was purchased by furniture outlet Overstock.com. The latter has rebranded its own website to BedBathandBeyond.com, and has begun offering a number of customer perks that can be linked to previous Bed Bath & Beyond loyalty accounts.
The relaunch was "a historic day for Bed Bath & Beyond and Overstock – and for the broader e-commerce industry," Jonathan Johnson, CEO of the new Bed Bath & Beyond, said in a press release. Johnson described Bed Bath & Beyond as "a much-loved and well-known consumer brand, which had an outdated business model that needed modernizing," and said the relaunch was "breathing new life into Bed Bath & Beyond, positioning it as an asset-light, e-commerce retailer with an expanded home furnishings and furniture assortment."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Johnson reiterated that the Bed Bath & Beyond branding was a key aspect of their purchase, telling NBC News, "We've looked at Bed Bath & Beyond jealously for several years. We really liked their name, and it was an iconic brand people loved."
One of the United States' most iconic retailers for decades, Bath Bath & Beyond filed for bankruptcy in April 2023, after years of declining revenues and store closures. Any remaining brick-and-mortar stores were slated to close this coming weekend, NBC reported.
The company began looking for buyers following the bankruptcy, and soon found Overstock.com. The retailer purchased Bed Bath & Beyond's assets this past June for $21.5 billion and began working on the rebrand. Overstock itself "saw quarterly net revenues decline 20% year-on-year last quarter to $422 million," NBC reported, and "had a net quarterly loss of $73 million in the same three-month period" while also seeing a shrinking customer base.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Justin Klawans has worked as a staff writer at The Week since 2022. He began his career covering local news before joining Newsweek as a breaking news reporter, where he wrote about politics, national and global affairs, business, crime, sports, film, television and other news. Justin has also freelanced for outlets including Collider and United Press International.
-
Jean-Marie Le Pen: rabble-rousing co-founder of the French National Front
In the Spotlight Once called the 'most hated man in France', Le Pen maintained that his ideas were simply 'ahead of their time'
By The Week UK Published
-
Babygirl: Nicole Kidman stars in 'riveting' erotic thriller
The Week Recommends 'The sex and the silliness' is quite fun, but it's 'ploddingly predictable stuff'
By The Week UK Published
-
Crossword: January 18, 2025
The Week's daily crossword puzzle
By The Week Staff Published
-
Getty Images and Shutterstock merge into a picture powerhouse to combat AI
The Explainer The $3.7 billion deal is one of the largest in the industry's history
By Justin Klawans, The Week US Published
-
US port strike averted with tentative labor deal
Speed Read The strike could have shut down major ports from Texas to Maine
By Peter Weber, The Week US Published
-
What went wrong at Nissan?
In the Spotlight And will a merger with Honda make the difference?
By Joel Mathis, The Week US Published
-
Biden expected to block Japanese bid for US Steel
Speed Read The president is blocking the $14 billion acquisition of U.S. Steel by Japan's Nippon Steel, citing national security concerns
By Peter Weber, The Week US Published
-
Nordstrom family, investor to take retail chain private
Speed Read The business will be acquired by members of the family and El Puerto de Liverpool, a Mexican real estate company
By Peter Weber, The Week US Published
-
Judges block $25B Kroger-Albertsons merger
Speed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
By Peter Weber, The Week US Published
-
Rupert Murdoch loses 'Succession' court battle
Speed Read Murdoch wanted to give full control of his empire to son Lachlan, ensuring Fox News' right-wing editorial slant
By Peter Weber, The Week US Published
-
Bitcoin surges above $100k in post-election rally
Speed Read Investors are betting that the incoming Trump administration will embrace crypto
By Peter Weber, The Week US Published