Online retailer Overstock.com was the winning bidder to acquire what’s left of Bed Bath & Beyond, including the bankrupt brand’s name, website, and loyalty program assets — and they’re putting their $21 million purchase to work immediately.
Overstock.com, an e-commerce giant known mostly for their furniture sales, has officially changed their name to Bed Bath & Beyond. While you aren’t going to see brick-and-mortar stores reopen — you’ll notice a lot of changes on the website BedBathAndBeyond.com.
We’ll tell you what we know about the new-look Bed Bath & Beyond (formerly known as Overstock.com), and what shoppers can expect.
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Overstock.com is now Bed Bath & Beyond.
When you go to Overstock.com, you’ll get redirected to BedBathAndBeyond.com.
Overstock has already relaunched the Bed Bath & Beyond website in Canada, and the U.S. According to the company’s CEO, the “new” website combines the best parts of both businesses.
By assuming the Bed Bath & Beyond name, Overstock.com now has a chance to expand into new areas. They’ve bought Bed Bath & Beyond’s ideas, data, and contracts, which can only help them grow their business and compete better with other online stores like Wayfair and Houzz.
They’re coming out of the gate with a 25% off coupon — at least in the app.
If you were still mourning the loss of the ubiquitous Bed Bath & Beyond 20% off coupon, the all-new Overstock-powered BedBathandBeyond.com may have a little gift for you.
The Bed Bath & Beyond website, which launched August 1, welcomes customers with an offer for a 25% off coupon when you download the Bed Bath & Beyond app and sign in or create an account. The coupon will apply a discount to one regularly priced item. Although the Overstock CEO has said he understands the Bed Bath & Beyond customer’s love of coupons, there’s no telling whether we’ll see a more regular 20% coupon with the new company. For now they have an entire page of coupons that stack with sale items! They may not look the same as the beloved BB&B coupons, but, we’ll take savings anyway we can get ’em.
Overstock’s Club O loyalty program has changed to Bed Bath & Beyond’s Welcome Rewards.
Bed Bath & Beyond shoppers said goodbye to Welcome Rewards back in May, but the loyalty points program made a comeback under new owners Overstock.com. Instead of getting 20% off all purchases like Bed Bath & Beyond did, the Welcome Rewards program will continue Club O’s tradition of offering customers 5% back in rewards on all purchases.
Sign up for the new Bed Bath & Beyond Welcome Rewards using your old BBB account and get 2,000 points worth $20.
If you were a Bed Bath & Beyond rewards member you can use your old Overstock account to sign into their new website and get 2,000 points worth $20 that you can spend right away. You’ll have to reset your password when signing up. Plus, if you download the Bed Bath & Beyond app you’ll also get a 25% off promo and free shipping (as always!).
Overstock will resurrect Bed Bath & Beyond’s popular wedding registry.
One of the big questions surrounding Bed Bath & Beyond’s closure has been: What’s going to happen to the wedding registry?
That’s one of the assets Overstock.com bought in the deal, and company execs say they’re going to bring it back — merging the popular gift registry with their own Overstock Gift Registry. There’s no timeline yet for when the registry will come back.
Burlington, Michael’s, and Haverty will take over Bed Bath & Beyond storefronts.
Looks like the Bed Bath & Beyond storefronts won’t stay empty for long. When Bed Bath & Beyond filed for bankruptcy, they had 468 leases in total. Out of these, only 153 were brought to auction and successful bids went through for 109.
The biggest new tenant was Burlington, which is taking over 50 of the old Bed Bath & Beyond locations. Meanwhile, Michaels is getting nine new locations, and Haverty, a furniture store, is moving into four new spots. There could potentially be more lease auctions in the future. The company has mentioned in court filings that there might be another wave of lease auctions, but the exact details about when these will happen or how many leases will be included are not yet known.
Buybuy Baby will have a new owner soon, too.
Bed Bath & Beyond’s original bankruptcy filing also meant that its sister company, buybuy Baby, would close all 122 of their stores, too. Buybuy Baby has had liquidation sales at the same time as Bed Bath & Beyond, but stores could potentially reopen now that Dream On Me won the rights to 11 locations. Dream On Me Industries also bought the buybuy Baby’s intellectual property (their brand and website). As of August 3, the buybuy Baby site has a screen informing visitors the website will be back and includes two buttons; one for contacting Dream On Me Industries and the other for joining their mailing list.
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