A brief overview of the bankruptcy of the company formerly known as Bed Bath and Beyond Inc., now formally known as 20230930-DK-Butterfly-1, from April 2023 to present, December 5, 2023.
April 14, 2023
Sue Gove, CEO of Bed Bath and Beyond Inc., gives an interview with eToro: Unveiling the Future of Bed Bath & Beyond.
In this interview, Sue Gove is asked:
“Sue I have to ask, because there are so many acquisition rumors floating around. Do you care to comment on any of those rumors popping up in the news these days?”
“Acquisition rumors? No, I haven’t actually heard any of them so I guess I really can’t comment.” laughing
April 23, 2023
Bed Bath and Beyond Inc. files for Chapter 11 bankruptcy.
investopedia.com - Chapter 7 vs. Chapter 11: Know the Difference
TLDR: Chapter 7 is a process for liquidation and the company goes out of business. Unlike Chapter 7, Chapter 11 gives a company the opportunity to reorganize its debt and try to reemerge as a healthy business.
The success rate for reemerging from Chapter 11 is low. Various sources put the number somewhere between 10% and 20% of Chapter 11 cases successfully reemerge.
The website buybuybaby.com was no longer an active online store. The website then displayed the following message:
Thank you to all of our loyal customers. We have made the difficult decision to begin winding down our operations. Bed Bath & Beyond and buybuy BABY stores remain open to serve you.
May 3, 2023
BBBY delisted from the Nasdaq, the ticker becomes BBBYQ and is listed on an OTC market.
June 22, 2023
Bed Bath & Beyond Inc. accepted a $21.5 million bid from Overstock.com to acquire its intellectual property, business data, rights to mobile apps and certain contracts.
Overstock.com said that it was dumping its name online and it will become Bed & Bath & Beyond.
July 7, 2023
Bed Bath & Beyond ends auction for Buy Buy Baby stores
Dream on Me Industries, a New Jersey-based baby products retailer, has agreed to pay $15.5 million in cash for the Buy Buy Baby intellectual property, including the company’s brand name, sales data, websites and mobile apps, according to court documents.
August 1, 2023
Overstock officially relaunched the Bed Bath & Beyond domain.
overstock.com now redirects to bedbathandbeyond.com
“Bed Bath & Beyond is back from the dead”
the website buybuybaby.com now displayed the message:
Be right back! We can’t wait to see you again soon!
September 29, 2023
8K Filed with the SEC is published.
The company formerly known as Bed Bath & Beyond, Inc. becomes 20230930-DK-Butterfly-1.
“Bed Bath & Beyond Inc emerged from its Chapter 11 bankruptcy as its plan of reorganization became effective on September 29, 2023”
Shares of BBBYQ are no longer able to be bought or sold.
October 9, 2023
@GameStop posts butterflies on X
October 24, 2023
Overstock.com announced that the company would rebrand as Beyond, Inc. effective November 6, 2023. The company said it will also transfer its stock listing to the New York Stock Exchange from Nasdaq and change the ticker to BYON. The CEO Johnathan Johnson resigns.
November 6, 2023
The company formerly known as Overstock.com becomes Beyond, Inc., and the stock ticker is changed from OSTK to BYON
November 18, 2023
buybuybaby.com formally relaunches and 11 physical buybuyBABY stores on the east coast are opened.