Big retail brand makes a post-bankruptcy comeback

Spread the love

According to The Street, In today’s retail landscape, going out of business doesn’t carry the finality it once did. Even after a company has closed its doors or filed for bankruptcy, recognizable brand names often live on through revivals that leverage the nostalgia and popularity of the original. This practice has led to the rise of “zombie brands,” companies that continue to exist in name only, often selling products that are far removed from their original offerings.

Sharper Image: A Name that Won’t Die

One prime example of a “zombie brand” is Sharper Image. Once known for its sleek, cutting-edge gadgets and fun store experiences, the brand saw all of its physical locations shut down. But the name lives on, now attached to a range of lower-end games, gadgets, and office novelties. The once-iconic brand has been revived, albeit in a much different form, capitalizing on the residual name recognition.

Also read: New Mexico State Fair 2024: Exciting Attractions, Fair Food & Fun Rides

Toys ‘R’ Us: The Never-Ending Comeback

Toys ‘R’ Us is another brand that refuses to stay dead. After declaring bankruptcy and going through multiple iterations, the iconic toy store name now lives on in various forms, including a presence in Macy’s toy sections. While the experience is not the same as the massive stores filled with toys that generations of children remember, it’s more appealing than an unbranded toy section.

Bed Bath & Beyond’s Quick Revival

Bed Bath & Beyond was barely closed when its intellectual property was bought by Overstock.com. Instead of reviving the physical retail chain, Overstock rebranded itself as “Beyond,” incorporating the Bed Bath & Beyond name. While the company initially moved away from the Overstock identity, it later brought back the Overstock website and shortened its name to Beyond. Now, Beyond is planning to bring back another iconic name — a once high-flying online retailer that was a digital pioneer.

Zulily’s Fall and Rise

Zulily, a popular online clothing retailer aimed at moms and children, never officially declared bankruptcy. Instead, the company opted for an Assignment for the Benefit of Creditors (ABC), essentially liquidating its assets and winding down operations without court involvement. Many of its customers were left frustrated, especially those whose orders were not shipped before the shutdown.

“Douglas Wilson Companies announced that, on December 22, 2023, Zulily and its parent company entered into an Assignment for the Benefit of Creditors (ABC) and transferred all its assets to a third-party fiduciary, or ‘Assignee,’ who will liquidate these assets and conduct an orderly wind-down of the business,” according to a company statement.

Unfortunately, some customers were left out of luck as Zulily was legally unable to issue refunds for unshipped orders. Instead, they were instructed to file claims for any outstanding amounts owed.

Also read: New Mexico Attorney General Sues Snapchat Over Child Exploitation Concerns

Beyond Plans to Revive Zulily

Beyond (formerly Overstock) has stepped in to breathe new life into Zulily. Executive Chairman Marcus Lemonis announced during the company’s second-quarter earnings call that the Zulily name would be brought back, with a relaunch planned for September 10. Lemonis shared that over 100 legacy Zulily vendors had already signed on, with another 100 suppliers in the onboarding process.

“We completed the architecture and POV on Zulily, and the site is now in the internal testing phase,” Lemonis said. “This effort has been led by a combination of our own and existing staff as well as an unbelievable team of added key legacy Zulily leaders.”

Beyond’s CEO, David Nielsen, elaborated on the strategy for the relaunch. He noted that a team of experienced merchants who had worked with the original Zulily would help guide the revival. The new Zulily will offer both flash sales and a permanent collection of must-have basics that will require a member login, making it a valuable addition to the company’s portfolio.

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *