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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 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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