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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.
In a June 2023 bankruptcy auction, Overstock.com acquired the Bed Bath & Beyond name, and associated intellectual property, in a $21.5 million stalking-horse bid. [12] [82] [83] Shortly thereafter, Overstock publicly announced its intention to rebrand its own operations under the Bed Bath & Beyond name after the acquisition closes. [84]
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