FORTH WORTH, TX-A joint-venture partnership that won the biddingauction for the Bombay Co. Inc. proposes to liquidate its stores inthe US and continue Canadian operations under a newly formed JVwith two Canada-based home furnishings retailers. According to aSeptember SEC filing, locally based Bombay operates 384 storesacross the US and 57 in Canada, under its subsidiary, the BombayFurniture Co. of Canada, Inc.

The bid-winners are Boston-based Gordon Brothers Retail PartnersLLC and Hilco Merchant Resources LLC, which is based in Northbrook,IL. The amount of the bid is undisclosed.

Both of the JV partners have specialties in appraisals and thedisposition of assets. Bombay filed for Chapter 11 bankruptcyprotection in the US and its Canadian equivalent this September.Pending court approval, the JV will begin the process ofliquidating inventory and closing Bombay stores in the US nextweek.