Two Once Popular Home Decor Stores Declare Bankruptcy
Published November 6, 2018 at 8:40 pm
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.insauga's Editorial Standards and Policies