Online retailer Overstock.com has placed a $21.5 million bid for some of Bed Bath & Beyond's assets, including its intellectual property.Competing bids are due by Friday. Overstock.com's offer will set the floor for a bankruptcy-run auction that is expected to take place on June 21.The home goods chain, which also owns Buy Buy Baby stores, received a $21.
Overstock.com's stalking horse bid – which will set the floor at the expected bankruptcy-run auction – also includes the business internet and mobile properties and all business data. The offer doesn't includeGet Philly local news, weather forecasts, sports and entertainment stories to your inbox. Competing bids are due by Friday. Bed Bath said in a statement it is still soliciting other offers. The auction is expected to take place June 21.recently as discussions had continued with prospective stalking horse bidders.
In recent weeks discussions have centered around the assets for Buy Buy Baby, often considered the crown jewel of the Bed Bath & Beyond portfolio. The Buy Buy Baby assets in particular had attracted interested bidders.