Home interior and decor chains Bowring and Bombay have declared insolvency.
According to documents, Bowring Canada and Bombay & Co., Inc., along with parent company Fluid Brands Inc., have obtained protection from creditors under the Bankruptcy and Insolvency Act.
In documents dated Oct. 25, and Nov. 1, the amount claimed by creditors is just over $50 million, with $24 million claimed by the CIBC.
In Canada, there are 43 Bombay stores, specializing in home furnishings and decorative accessories, and 38 Bowring stores, selling giftware and home decorations. The stores range in size from 2,000 to 6,000 square feet.
Richter Advisory …
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