FLWS - Bed Bath & Beyond in Legal Battle Over a $252 Million Deal Disrupted by COVID-19
In possibly the biggest business deal gone awry to date because of the coronavirus pandemic, Bed Bath & Beyond (NASDAQ: BBBY) is suing 1-800-Flowers.com (NASDAQ: FLWS) over the latter's purchase of Pmall.com. Bed Bath & Beyond claims 1-800-Flowers is trying to back out of the deal, while the internet florist says it's simply postponing the closing for a month.
Pmall.com, also called Personalization Mall, is a brand currently owned by Bed Bath & Beyond. It offers many products ready for personalizing, including clothing, drinkware, home décor, and kitchenware. The company adds customized names, short messages, or photo decals to these items.
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