Mattress Tub & Further than will are living on in identify only after Overstock.com won an auction for the unsuccessful home items retailer’s intellectual residence and digital belongings, according to courtroom records filed early Thursday.
The e-commerce discounter, which was selected as the stalking horse bidder for Bed Bath’s individual bankruptcy-run auction, will buy the chain’s model title, small business facts and digital assets for $21.5 million, the documents say.
The offer does not contain retaining Bed Bath’s merchants open up. The sale selling price is the very same as Overstock’s stalking horse bid, which set the flooring value at the auction, indicating Bed Bath did not obtain larger or far more desirable bids.
JOWA Brands was picked as a backup bidder entirely for Mattress Bath’s Wamsutta manufacturer, a non-public sheets and towels label the retailer owns.
10 Twenty 4, a software program enterprise that allows house owners optimize holiday rental revenues and does enterprise as Over and above Pricing, was decided on as the backup bidder for the retailer’s Further than.com asset. If the offer with Overstock falls as a result of, 10 20 4 could win rights to the area name.
The sale still requirements to be approved at a hearing on Tuesday.
In a scarce transfer, Bed Bathtub chose to run a different sale approach for its Acquire Buy Infant chain, deemed the crown jewel of its property.
The separate course of action enables the business to uncover a bidder ready to retain the banner’s merchants open up, with no the headache of taking on Mattress Bath’s belongings.
Buy Acquire Toddler belongings garnered interest from customers even before Mattress Bath submitted for bankruptcy in April.
The chain, which sells baby apparel, home furnishings and other merchandise, has because attracted fascinated buyers throughout the sale process, which includes from potential bidders intrigued in holding its actual physical footprint alive, CNBC beforehand described.
The auction for Buy Invest in Baby’s property is slated to just take put on Wednesday.
