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A $15.5 million sale of the chain's intellectual property to New Jersey-based Dream On Me is pending. [86] Following the sale of the brand to Overstock, Bed Bath & Beyond, Inc. changed its name to 20230930-DK-Butterfly-1, Inc. and cancelled its stock on September 29, 2023. [1]
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The company was founded as D2:Discounts Direct in May 5, 1997 by Robert Brazell. The company went bankrupt in 1999. Patrick M. Byrne and Jason Lindsey acquired the company and renamed it as Overstock.com. The company initially sold exclusively surplus and returned merchandise on an online e-commerce marketplace, liquidating the inventories of at least 18 failed dot-com companies at below ...
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The company continued to struggle through the retail apocalypse, and in late summer of 2022, Bed Bath & Beyond announced plans to close 150 stores, lay off 20% of its corporate and supply chain staff, and eliminate the role of COO and CSO within the company. Liquidity was raised to about $1B after a loan and additional financing were secured.
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