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Overstock launches new Bed Bath & Beyond website, app amid closure of brick-and-mortar stores; site merges offerings from the two brands, offers various discounts and coupons

S&P Global shows H1 US corporate bankruptcies surged to highest level since 2010 amid historically high interest rates; SVB, Bed Bath & Beyond, Lordstown Motors lead list of US bankruptcies, whose rise is a worrying sign for wider US economy

Overstock.com intends to sunset its company name, rebranding as Bed Bath & Beyond after purchasing company's intellectual property assets in bankruptcy; company will remain an online-only home goods retailer, combining strengths with a stronger brand name

Commentary: Overstock could see US$150M revenue boost from Bed Bath & Beyond assets acquisition, reverse Overstock's declining revenue trend given recent uptick in online furnishings sales; US$21.5M deal could add US$10M to EBITDA profits in 2024

Commentary: Walmart's move to double down on fashionable home goods and clothing threatens specialty chains, could pick up sales after Bed Bath and Beyond bankruptcy; strategy includes celebrity collaborations, adding over a dozen new lines of merchandise

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