Overstock Plans To Rebrand Itself As Bed Bath & Beyond — Retail Bum

During a recent earnings call on Thursday, June 29, 2023, Overstock.com CEO Jonathan Johnson announced that the company soon be rebranding itself as Bed Bath & Beyond in the United States and Canada, capitalizing on the well-established brand recognition of the bankrupt retailer.

The digital-only retailer had won a $21.5 million bid to acquire Bed Bath & Beyond’s intellection property assets last week — a deal Johnson described as a momentous and exciting milestone for the company.

Bed Bath & Beyond had been grappling with significant financial and operational difficulties, suffering from supply chain challenges, response to the pandemic, and strategic misjudgments. These issues ultimately placed the company in an unsustainable position, with a substantial long-term debt of around $1.8 billion, prompting the company to file for bankruptcy in April 2023.

Johnson emphasized that despite Bed Bath & Beyond’s bankruptcy, the brand continues to be well-favored by consumers.

In response to an analyst, Johnson expressed his confidence in the rejuvenated brand’s capacity to regain customers who had been dissuaded by unsatisfactory shopping experiences at Bed Bath & Beyond. Issues such as frequent instances of out-of-stock merchandise or canceled orders during the…