Overstock.com intends to sunset its company name and rebrand as Bed Bath & Beyond after purchasing that company's intellectual property assets in bankruptcy, Overstock CEO Jonathan Johnson said on Thursday, Reuters reported. Overstock, which chose not to bid on any of Bed Bath & Beyond's retail locations or inventory, will remain an online-only home goods retailer, combining Overstock's strengths with a better-known and stronger brand name, Johnson said in an interview. "An opportunity arose in bankruptcy to get the pieces that we loved and not have them burdened by the things we didn't like," Johnson said. "We've long liked the Bed Bath and Beyond name, but we didn't like the stores, the inventory, so don't expect stores from us." Overstock's "generic" name has held the company back, and it does not really reflect the company's current focus on selling home goods and furniture online, Johnson said.
