TBO.com - TBO is Tampa Bay Online

Bombay Co. May Close 4 Bay Area Furniture Stores

ADVERTISEMENT

By MARY SHEDDEN | The Tampa Tribune

Published: October 15, 2007

TAMPA – Four local Bombay Co. stores could be closing as part of a nationwide liquidation of the national furniture chain, company officials said.

An estimated 327 stores have been recommended for closure as part of The Bombay Co.'s Chapter 11 reorganization proceedings, which started last month. More than 50 Canadian locations would remain open as part of the plan being considered this week in a Texas bankruptcy court.

If the plan is approved, the stores in Brandon, Citrus Park, Wesley Chapel and Clearwater would remain open through the holiday season.

"This is a difficult day for Bombay in the United States, but we are glad that we have found a solution that will help provide most of our U.S. employees with continued work through the all-important holiday season," Chief Executive David B. Stewart said in a statement.

Bombay, launched in New Orleans in 1978, is best known for its inexpensive nod to 18th and 19th century-style furniture. The company had been on a fast track for growth. As recently as 2003, the publicly owned company added a children's furniture line and discussed plans to grow by as much as 10 percent a year.

In fact, its newest local store, in Wesley Chapel, opened just two years ago in the midst of that area's massive housing boom.

But Bombay, like the rest of the furniture industry, has been among the retailers most affected by the national slowdown in home sales. Other chains, including Bombay competitor Pier One Imports, have been struggling financially and issuing major changes to their operations.

In June, Pier 1 announced it would shut its Kids Stores and clearance outlets. More than 100 stores were targeted as part of the reorganization, and included the shutdown of the long-time clearance center near the University of South Florida campus.

Reporter Mary Shedden can be reached at (813) 259-7365 or mshedden@tampatrib.com.

Share this:

Loading Comments...

Email Print

ADVERTISEMENT