Mattress Bathtub & Past has risen from the grave.
The bankrupt house items retailer was relaunched as an internet retailer on Tuesday, a month after it was bought by furnishings outlet Overstock.com. The latter has rebranded its personal web site to BedBathandBeyond.com, and has begun providing various buyer perks that may be linked to earlier Mattress Bathtub & Past loyalty accounts.
The relaunch was “a historic day for Mattress Bathtub & Past and Overstock – and for the broader e-commerce business,” Jonathan Johnson, CEO of the brand new Mattress Bathtub & Past, stated in a press launch. Johnson described Mattress Bathtub & Past as “a much-loved and well-known client model, which had an outdated enterprise mannequin that wanted modernizing,” and stated the relaunch was “respiration new life into Mattress Bathtub & Past, positioning it as an asset-light, e-commerce retailer with an expanded house furnishings and furnishings assortment.”
Johnson reiterated that the Mattress Bathtub & Past branding was a key side of their buy, telling NBC Information, “We have checked out Mattress Bathtub & Past jealously for a number of years. We actually favored their title, and it was an iconic model folks beloved.”
One of many United States’ most iconic retailers for many years, Bathtub Bathtub & Past filed for chapter in April 2023, after years of declining revenues and retailer closures. Any remaining brick-and-mortar shops had been slated to shut this coming weekend, NBC reported.
The corporate started searching for patrons following the chapter, and shortly discovered Overstock.com. The retailer bought Mattress Bathtub & Past’s property this previous June for $21.5 billion and commenced engaged on the rebrand. Overstock itself “noticed quarterly internet revenues decline 20% year-on-year final quarter to $422 million,” NBC reported, and “had a internet quarterly lack of $73 million in the identical three-month interval” whereas additionally seeing a shrinking buyer base.