The U.S. Bankruptcy Court for the Northern District of Texas has approved the sale of the Bombay Co. to the joint venture of Gordon Brothers Retail Partners and Hilco Merchant Resources.
Earlier this week, the venture posted the winning bid at an auction for Bombay’s operations, according to court documents.
The direct marketer and retailer filed for Chapter 11 bankruptcy late last month.
Bombay owes more than $8.3 million in unsecured debt. According to court documents, those creditors include AT&T ($75,000), Advertising.com Inc. ($100,621), Federal Express ($189,336), DHL ($141,991) and several real estate-related companies (Direct Newsline, Oct 16).
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