Bombay and Bowring going out of business
 

https://www.blogto.com/fashion_style...goes-bankrupt/

Wife is sad. However they got shit on sale for 70% off regular price.

Honestly, I never understand how they stayed in business for so long...

It's too bad when a company goes under like this. $50 million in debt is nothing to joke about, as that is going to hit the bottom line of so many of their suppliers who will be lucky to get pennies on the dollar once this is all done.

Bombay was founded in 1978. It makes me wonder if their management had become stale. I've been in corporate for a lot of years now and have seen companies turn around their bad fortune by finding young blood to take over management. Whereas there have been a few companies that I frequent who still have the same management since the 80's and 90's. Funny thing, those are the companies who seem to be treading water as opposed to growing. I wonder if this is the same sort of situation, or just a sign of the times.

All I know is my mother spends a fortune in these kinds of places, and she is not alone. Women over the age of 50 filled these stores.

my entire house is furnished with bombay crap... the quality of the items are pretty damn good compared to Ikea.

I need to get out more, never heard of Bombay.

I agree with Hypa, 50 million isn't nothing to sneeze at and it's all the small vendors that supplied them that are going to get screwed the worst.

:lawl:

all my bombay shit is falling apart

how can a dining table delaminate :mindblown:

Traditional businesses have been failing a lot in the past decade or so like Futureshop, A&B Sound, Toysrus... etc.

The way I see it is that they failed to adapt to the time. Worse yet, their entire management fail to adapt. When they face problems and bring in new CEOs, they stick to people with traditional way of doing business instead of young blood who understand the new concept and is willing to think outside of the box. So it's always cost cutting here and there... with very little innovation or change into their business model.

A lesson for those who invest in companies stocks, don't just check the company's book/performance and the business they are in, but also their board of directors. You want a board with a good diversity. If the entire board consists of old folks of 50s-60s, you know there's a problem.

I'm not ageist or anything, experiences do count. However, the key is "diversity". A board with only old people can only think in old ways.

In the era of internet, what has been minimized is the speed and cost of transfer of information. A business will have to adapt to that wave and flow with it or it will stagnant. Worse, it's ripen for major market distruption. Think Blockbuster in the late 90s and early 00s. It was beyond believe that they'd go out of business. However, they didn't adapt and failed miserably.
If they were to adapt to the early business model of Netflix, they would have put Netflix out of business in no time.

I can honestly say this is the first time I've ever heard of this company and based on the name I have no idea what they sell atm.

I was literally in my moms living room yesterday talking about her $10k living set that she got at Bombay. She said she wanted an excuse to get rid of all of it! haha

too funny. And sad at the same time!

My dad always said that u need to adapt with the times or else u ended up falling

My always reminds me of Kodak films, they were the first to develop and come up with the while digital photography but they didn't continue cuz they were afraid it would screw with their film business (look were that ended up lol)

Do they sell appliances like freezers? Currently looking to buy a new one during black Friday. Ill be happy if they do.

nope they only do furniture

I thought they went bankrupt years ago, I was shocked to see a store of theirs a few months ago, I was like "wtf"

I remember buying a display pen/pen holder or something like that years and years ago and it fell apart...I was like seriously?? so never shopped there again

Had to stop of at Mark's in Langley last night and ended up walking in to Bowring just to look. Not a whole lot there. Everything is 20% off. All that's there that would be worth considering for me would've been wine glasses.

If it's not raining I'll walk in to Bombay on Saturday and take a peek.

after reading the title I thought the Gin maker was going out of business, which would such because that is my fav brand of Gin...

Bankruptcy sales are almost never deals, they hire another company to come in and they do all kinds of shit like raising prices and then putting a percentage off and just push push push... they’re professionals at it and deals are purely illusion.

Probably cause you're not a 40+yo white woman lol

I always thought Bowring was a strange name.

Retail like these are dying. I'm in mgmt team of a home decor supplier and retail is dying. We have completely changed our strategy and are going online. Wayfair Target online are where its at. Amazon will also soon squeeze out suppliers like us.