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Bombay Stores Set For Sales
November 11,
2007 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on November 2007
As the Bombay Company, Fort Worth, Texas, liquidates its inventory during the holiday season, DJM Realty, Melville, N.Y., expects to auction leases for 335 retail store locations and five distribution centers in mid-December.
The retailer filed for Chapter 11 bankruptcy in September. Last month, the company announced that a joint venture of Gordon Brothers Retail Partners LLC and Hilco Merchant Resources LLC submitted the winning bid at the auction for Bombay’s business operations, under a plan that would liquidate Bombay’s U.S. retail operations while continuing Canadian operations after selling off inventory.
Monday’s announcement said the hiring of DJM to sell leases is subject to bankruptcy court approval next week. “There are very few opportunities to offer a real estate portfolio as unique as Bombay’s, which consists of locations in elite malls, street-front properties and strong strip, outlet and lifestyle centers,” said Andy Graiser, co-president of DJM Realty.
The stores, which are spread across 41 states, range from 1,800 square feet to 11,000 square feet. The distribution centers in Pennsylvania, Georgia, Texas, Indiana and California range in size from 250,000 square feet to 400,000 square feet.