Bed Bath & Beyond and its debtors have accepted the Overstock stalking horse bid for the company’s key company intellectual property, according to a filing with the United States District Court in New Jersey.
The purchase price for the business intellectual property, including the Bed Bath & Beyond name, was $21.5 million.
According to an Overstock filing with the U.S. Securities and Exchange Commission, the Overstock bid included business data and rights to mobile applications in addition to the Bed Bath and Beyond name.
Bed Bath & Beyond filed for Chapter 11 bankruptcy protection in April and subsequently determined to liquidate. The company’s stores, which are not included in the Overstock transaction, continue conducting going-out-of-business sales.
An auction of buybuy Baby assets is slated for June 28.
Overstock share price gained Thursday on news of the court’s acceptance of its bid, although it gave back some of those gains Friday morning.
