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Bombay Files For Chapter 11 Protection(InvesTrend Via Thomson Dialog NewsEdge) September 20, 2007 (FinancialWire) The Bombay Co., Inc. (OTCBB: BBAO) has filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code for itself and its U.S. subsidiaries. The company said it has secured a commitment for a $115 million debtor-in-possession financing facility from General Electric Capital Corp. (NYSE: GE) and GE Canada Finance Holding Company. The filing, which was made in U.S. Bankruptcy Court for the Northern District of Texas, Fort Worth Division, is said by Bombay to be part of the company's efforts to address financial challenges and identify a strategic or financial investor. Bombay's Canadian operations also will be seeking protection under the Companies' Creditors Arrangement Act in Canada. Bombay said it intends to conduct business as usual through its retail stores and websites and honor its customer service policies, pay "post-petition" vendors, suppliers and other business partners and continue to pay employees' wages and salaries. Fort Worth, Texas-based Bombay designs, sources and markets a line of home accessories, wall decor and furniture through 384 retail outlets and the Internet in the U.S. and internationally. For up-to-the-minute news, features and links click on http://www.FinancialWire.net FinancialWire is an independent, proprietary news service of Investrend Information, a division of Investrend Communications, Inc. It is not a press release service and receives no compensation from any company for its news or opinions. Other divisions of Investrend, however, provide shareholder empowerment platforms such as forums, independent research and webcasting. For more information or to receive the FirstAlert daily summary of news, commentary, research reports, webcasts, events and conference calls, click on http://www.investrend.com/contact.asp For a free annual report on a company mentioned in the news, please click on http://investrend.ar.wilink.com/?level=279 To become an investor monitor of independent research for a company in which you are invested, go to the not-for-profit Shareholders Research Alliance, Inc. website by clicking on http://www.shareholdersresearch.com/ The FinancialWire NewsFeed is now available in multiple formats to your site or desktop, free. Click on: http://www.investrend.com/XmlFeeds?level=268 (Distributed for Investrend Communications, Inc. via M2 Communications Ltd (www.m2.com)) Copyright 2007 M2 Communications Ltd. |