With home goods retailer Bed Bath & Beyond falling beyond any chance of corporate salvation from its April bankruptcy, Overstock.com won a bid Thursday to acquire the defunct company’s remaining assets for $21.5 million.
Under the purchase agreement, Overstock will obtain all of Bed Bath & Beyond’s remaining goods and holdings, including intellectual property, business data, rights to mobile apps and certain contracts.
Overstock will also assume certain specified BB&B liabilities.
After the purchase agreement was announced on Thursday, Overstock’s stock rose more than 17 percent.
