Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Consumers will now have 45 days to return items purchased from Buy.com.
Mass merchandise online retailer Buy.com today announced that it has extended its return policy for items purchased from Buy.com from 30 days to 45 days.
"We recognize that consumers today have more responsibilities and lead busier lives than ever,” says Neel Grover, CEO and president of Buy.com, No. 32 in the Internet Retailer Top 500 Guide. “Extending our return policy saves them time and money, and offers more peace-of-mind about purchases."
The change applies to the millions of SKUs sold directly by Buy.com, but not items purchased on the Buy.com marketplace, which accounts for nearly half of sales on the site.
However, the retailer says later this year it will offer merchants that sell on its marketplace the option to add the 45-day return policy. Retailers that do so will be given more prominent site placement, as well as a special badge denoting that they participate in the program, says Buy.com.
The move is one of the first changes the retailer has made since late May when Japanese Internet marketplace operator Rakuten Inc. reached an agreement to purchase Buy.com for $250 million.
"As we expand under our new owner, Rakuten, this initiative will become one of many future site enhancements designed to delight the customer," says Grover.