Bombay to liquidate
October 15, 2007,
Fort Worth, Texas – Weeks after filing for Chapter 11 bankruptcy protection, it looks like The Bombay Company will liquidate in the United States following the holiday season.
Under the terms, the Canadian division of Bombay will be peeled off and continue operations through an acquisition by retailer Bowring and Benix & Co. “Bombay represents one of the most respected retail brands in Canada, and the acquisition of Bombay Canada complements our existing Bowring and Benix brands, strengthening our position as Canada's leading home retailers." Fred Benitah, ceo of Bowring and Benix & Co.
Other Bombay assets, including its U.S. intellectual property rights and its real estate assets, are not part of the proposed transaction.