Bombay home furnishings store to shut down US operations

FORT WORTH, TEXAS: The home furnishings stores of The Bombay Co Inc are going out of business across the US.

Bombay, which filed for bankruptcy in September, said a joint venture of Gordon Bros Retail Partners and Hilco Merchant Resources submitted the winning bid for the retailers US inventory.

The winning bidders plan to shut down Bombay's US stores and keep its Canadian stores open, the Fort Worth-based company said.

A US bankruptcy court and an Ontario court must approve Bombay's plan. A hearing is scheduled for tomorrow in Fort Worth.

If the plan wins approval, the bidders will begin going out-of-business sales at Bombay's US stores as early as next week, the company said.

The amount of the bid was not disclosed. Bombay operates about 400 stores in the US and Canada, selling home accessories, wall decor and furniture. It employs about 3,600 people, including more than 200 at its Fort Worth headquarters.