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. Image source: Getty Images. Bed Bath & Beyond bought Pmall.com in 2016 for approximately $190 million in cash. CEO Steven Temares described the acquisition as an opportune entry into the "growing category of product personalization." This February, Bed Bath & Beyond agreed to sell Pmall.com to 1-800-Flowers for $252 million with a March 30 closing date. On March 24, 1-800-Flowers informed the retailer it lacked the cash on hand to complete the acquisition because of the economic devastation wrought by COVID-19. Instead, it said it said it needed to postpone the closing to April 30. While the acquisition contract features a MAE (material adverse effect) clause, this only allows 1-800-Flowers to exit the deal if Pmall.com itself, not the general economy, suffers a sharp downturn. Bed Bath & Beyond is launching a lawsuit to force 1-800-Flowers' compliance with the original terms. The lawsuit is taking place in Delaware, where judges have typically but not invariably taken the side of plaintiffs in similar cases. 10 stocks we like better than Bed Bath & BeyondWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Bed Bath & Beyond wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of March 18, 2020 Rhian Hunt has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source