Bed, Bath & Beyond is relaunching online in Canada

Bed, Bath & Beyond is relaunching online in Canada.

Overstock, a U.S. online furniture retailer, has acquired the intellectual property and some digital assets of the brand and the relaunch will be available for Canadians within the week, the company announced in a press release.

A refurbished website, mobile app and loyalty program for U.S. customers will be launched within the next few weeks. The acquisition took place under a bankruptcy court-supervised process.

In April, Bed Bath & Beyond filed for Chapter 11 bankruptcy protection after the New Jersey-based retailer failed to secure funds to stay afloat.

“This acquisition is a significant and transformative step for us,” said Overstock CEO Jonathan Johnson.

“Bed Bath & Beyond is an iconic consumer brand, well-known in the home retail marketplace. The combination of our winning asset-light business model and the high awareness and loyalty of the Bed Bath & Beyond brand will improve the customer experience and position the Company for accelerated market share growth.”

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The Bed Bath & Beyond assets acquired include website and domain names, trademarks, tradenames, patents, customer database, loyalty program data and other brand assets related to the Bed Bath & Beyond banner.

The U.S. Bankruptcy Court for the District of New Jersey approved Overstock’s winning bid at a sale hearing on Tuesday.

The brick-and-mortar operations of Bed, Bath & Beyond Inc. are not included in the deal, meaning the physical stores won’t be reopening even as the online brand comes back to life.

“Combining the strengths of the Overstock operational model and the Bed Bath & Beyond brand will create a powerful synergy,” Johnson said.

“I’m excited for consumers to experience the new Bed Bath and an even bigger and better Beyond.”