Bed Bath & Beyond, 1-800-Flowers settle lawsuit over PersonalizationMall.com

1-800-Flowers will now acquire PersonalizationMall.com for $245M

Bed Bath & Beyond and 1-800-Flowers have settled a lawsuit over the sale of PersonalizationMall.com.

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The home furnishings company sued 1-800-Flowers in April after the flower company wanted to delay its purchase of PersonalizationMall.com -- a personalized gift company -- because of the coronavirus pandemic, Reuters reported at the time.

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In their settlement, the companies agreed that 1-800-Flowers would still buy PersonalizationMall.com for $245 million, “subject to certain working capital and other adjustments,” according to a press release about the settlement.

The deal is expected to close before Aug. 3.

Customers carry bags from Bed Bath & Beyond store in 2013. (Kevork Djansezian/Getty Images)

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1-800-Flowers had previously agreed to buy PersonalizationMall.com from Bed Bath & Beyond for $252 million, FOX Business reported at the time.

The deal was supposed to close by March 30, but after the coronavirus hit the U.S., 1-800-Flowers tried to delay the closing until April 30, Reuters reported.

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“While we still desire to proceed with the transaction, we maintain that the conditions to closing the transaction have not been satisfied in light of the consequences of the COVID-19 pandemic, including the shut-down of the PersonalizationMall.com facilities until at least April 30, 2020,” the company said, according to Reuters.

However, Bed Bath & Beyond sued the company, arguing, “Even a calamitous event such as COVID-19 does not permit a party to avoid its obligations.”

TickerSecurityLastChangeChange %
BBBYBED BATH & BEYOND INC.14.51-0.37-2.49%
FLWS1 800 FLOWERS COM25.16-0.48-1.87%

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