Back from the dead! Bed Bath & Beyond website is relaunched – weeks after it was bought out of bankruptcy
- Bed Bath & Beyond was bought for $21.5 million in June by online retailer Overstock.com
- The home goods retailer shuttered hundreds of stores across the US after filing for bankruptcy in April
- The revived site has also reinstated the points that customers had earned under the former retail giant’s loyalty scheme
Bed Bath & Beyond has relaunched as an online-only brand – just over a month after it was bought out of bankruptcy.
The home goods retailer, which shuttered hundreds of stores across the US after filing for bankruptcy in April, was bought by digital brand Overstock.com for $21.5 million in June.
The company has ditched its name and now redirects visitors to BedBathandBeyond.com, where customers can once again shop for popular branded bathroom, bedroom and kitchen-related products – alongside a growing assortment of furniture.
‘Overstock has a great business model with a name that does not reflect its focus on home,’ Overstock CEO Jonathan Johnson said in a statement.
‘Bed Bath & Beyond is a much-loved and well-known consumer brand, which had an outdated business model that needed modernizing.’
Overstock has ditched its name and now redirects visitors to BedBathandBeyond.com
The home goods retailer shuttered hundreds of stores across the US after filing for bankruptcy in April
The revived Bed Bath & Beyond has also reinstated the points that customers had earned under the former retail giant’s loyalty scheme – and is offering a 25 percent off welcome coupon for anyone who downloads and shops through the company’s new app.
However it will not be reinstating the store’s famous 20 percent off ‘Big Blue’ coupon.
‘If you liked the Bed Bath & Beyond coupons of the past, you will love our better pricing, special promotions, broader assortment, and the improved customer experience on the website and mobile app,’ Johnson added. ‘Think of it as Bed Bath & a much bigger, better Beyond.’
Former Overstock.com loyalty program members will also get a 20 percent off coupon and their membership transferred to the rebranded loyalty program.
Overstock’s purchase of Bed Bath & Beyond last month did not include its remaining brick-and-mortar stores, which closed earlier this summer amid the so-called ‘retail apocalypse’ gripping the US.
Shares in the company rocketed almost 15 percent after news broke that the online retailer had snapped up the rights to the home goods store.
Bed Bath & Beyond was founded in Springfield, New Jersey, in 1971 – and has since been ubiquitous in the US home goods market.
The share price of Overstock climbed just under 15 percent after the news of the purchase in June
Overstock.com has ditched its name and now redirects visitors to BedBathandBeyond.com
The firm filed for Chapter 11 bankruptcy in April before attempting to reorganize its assets and pawn them off to the highest bidder.
One of these assets was retailed Buy Buy Baby – which was finally sold for $15.5 million in July.
After struggling to secure a buyer, Buybuy Baby has now been bought by New Jersey-based babywear designer Dream on Me Industries – which has one small store and an e-commerce site.
But the sale only included the intellectual rights to the company – meaning all 120 stores across the country will shut.
