Two Once Popular Home Decor Stores Declare Bankruptcy
If you love to shop for home decor, you might be sad to hear that two more brick and mortar chains—chains which were once popular and common sights in GTA power centres and shopping malls—are in trouble.
According to legal documents, Fluid Brands Inc.—which operates both Bowring and Bombay—has filed for creditor protection.
It’s been a bad few weeks for retailers, as we recently learned that Jean Machine plans to shutter its Canadian locations and that Lowe’s will be closing some locations across the GTA.
While it's not yet clear if Fluid intends to shutter all Bowring and Bombay locations, a recent CTV News article says that "some of the chains' stores have moved into liquidation mode as they prepare for expected closures."
Judging by the legal filings, Fluid owes well over $48 million dollars to a number of different creditors.
The documents say that the brand owes well-known financial institution CIBC $24 million alone.
Both the Bombay and Bowring websites appear to have been scraped clean (each offers a landing page, but not much else).
The stores also do not appear to be operating active social media accounts at this time.
- Pier 1 files for bankruptcy protection, closing all Canadian stores
- BCBGMAXAZRIA Closing All Locations in Canada
- A Slew of Canadian Clothing Store Locations Could Close For Good
- This Popular Home Décor Store is Closing its Doors Across Canada
- Several popular clothing stores closing down for good in Canada
- International travelers are walking out of Mississauga's Pearson Airport and ignoring quarantine rules
- Brampton school sends 18 staff members home over COVID-19 scare
- Some elderly Brampton and Mississauga residents can get COVID-19 vaccines much sooner than expected
- 49 fines issued for travellers refusing COVID-19 test at Mississauga's Pearson Airport; Peel police won't issue further fines
- Mississauga and Brampton schools get hit by the COVID-19 variants