Bed Bath & Beyond’s brick-and-mortar stores may be closing forever, but the embattled home goods retailer will live on in name only.

Popular e-commerce site Overstock.com won an auction for the bankrupt retailer’s intellectual property and digital assets with its bid of $21.5 million, according to court records filed June 22.

Under the potential sale – which must be approved by U.S. Bankruptcy Court for the District of New Jersey, the venue where Bed Bath & Beyond filed for Chapter 11 protection in April – Overstock would shut remaining stores and take ownership of the company’s internet properties, social media, mobile platforms, business data, publicity rights and trademarks.

A court hearing to sign off the transaction is scheduled for June 27.

Overstock was the first bid and set the minimum price. In the event that deal falls apart, software company Ten Twenty Four was named backup bidder for the Bed Bath & Beyond domain name, while Jowa Brands is backup bidder for the retailer’s private sheets and towels label Wamsutta.

Following its April 23 bankruptcy filing, Union-based Bed Bath & Beyond launched liquidation sales across its 360 namesake stores and 120 Buybuy Baby locations nationwide.

At the time, the retailer said it expected to close all its stores by the end of June; however, it also planned to use Chapter 11 proceedings to search for outside buyers who could keep its 52-year-old company going or purchase assets.

The cash-strapped company already shed its Harmon FaceValues beauty chain and its Bed Bath & Beyond stores in Canada as part of a turnaround attempt earlier this year.

Bed Bath & Beyond opted to run a separate sale process for its baby-focused banner Buybuy Baby, with the auction set to take place June 28.

Considered to be the crown jewel of Bed Bath & Beyond’s business, Buybuy Baby has attracted interest from retail investment firms Go Global Retail and Sixth Street Partners, Reuters reported.