By Dean Seal
Shares of Overstock.com are trading higher following a report that the company has expressed interest in buying the bankrupt Bed Bath & Beyond’s intellectual property.
The stock was up 10.3% at $21.29 in midday trading. Shares are trading higher than they were at the start of the year but are down by nearly a third over the past 12 months.
The Wall Street Journal exclusively reported Monday that Go Global Retail is bidding to acquire Buybuy Baby from Bed Bath & Beyond while Overstock is in talks to buy the intellectual property behind the main Bed Bath & Beyond banner.
If a deal with Overstock is struck, the online discount retailer would shutter the remaining physical Bed Bath & Beyond stores, according to people familiar with the talks. The report pointed out that in recent years, bankrupt businesses have found a second life as brand names on digital commerce platforms.
Write to Dean Seal at dean.seal@wsj.com
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