Bombay files for bankruptcy

FORT WORTH, Texas The Bombay Co. today announced that it has filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code for itself and its U.S. subsidiaries. The filing, which was made in U.S. Bankruptcy Court for the Northern District of Texas, Fort Worth Division, is part of the company's efforts to address financial challenges and identify a strategic or financial investor.

In addition, the company filed a variety of "first day motions" to support its employees, vendors, customers and other stakeholders; to obtain interim financing authority and maintain existing cash management programs; to retain legal, financial and other professionals; to support the company's reorganization case; and for other relief.

"After considering a wide range of alternatives, this course of action was seen as the best route to help preserve our internationally respected brand while working to secure our future," said David Stewart, ceo of the company. "With a tremendous talent pool and an excellent selection of high quality home accessories and furnishings, we are confident that our business will emerge from this process stronger and more competitive. We are very grateful for the dedication and hard work of all our employees and look forward to providing them with a clear road map for success."