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Remember Bed Bath & Beyond? Of course you do; you can probably smell it, just hearing the words. After shuffling off this mortal coil last year, the brand has made a deal to come back ... albeit, a little differently than you know it.
In April of 2023, Bed Bath & Beyond filed for Chapter 11 bankruptcy and shuttered all of its retail locations by June. It then moved online in partnership with Overstock.com.
After striking a deal with Kirkland's Home, the two brands plan to open a few bricks-and-mortar locations. Bed Bath & Beyond continues to claw its way from out of the grave.
These won't be the big, warehouse-esque stores you remember. These will be "neighborhood" stores, each somewhere between 7,000 and 15,000 square feet, and carrying "a curated assortment from iconic legacy vendor partners."
In a seven-year collaboration, Bed Bath & Beyond entered into a $17 million term loan credit agreement. Some $8.5 million of that is a convertible note, which means it can be converted into stock rather than being repaid.
Kirkland's Home is its own thing — a home goods store — and not related to Costco's house brand, Kirkland Signature.
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