Just figured out the answer is yes. Whereas, according to their statement, the sales may end soon, especially if they are staying open. I wonder if they are going to liquidate old inventory, pay off debts, then re-stock the stores are different prices. Not familiar how CH 11 works though.
They're liquidating all assets to pay off their creditors. The stores are selling everything not part of the building - literally. Product, display stands, counters, etc. The money from the assets will go to an account, and the court will determine through what will surely be a complex, unintelligible formula how much goes to each creditor.
There's different types of corporate bankruptcy. Some good for businesses(like the Airlines running to bankruptcy court to redo all their contracts and such on their whim) and some bad for companies (like this one) where they will cease to operate completely.
As far as Bombay is concerned, they are closing stores at anytime with no notice to staffs (other than maybe 1 day) & moving the inventory to another to keep from having just a few items at one store, any paying 2 (or more) staffs to sell the products.
One word of caution to anyone buying their stuff thru the sales. You will find some good deals, but you'll have no returns, no exchanges and no warranty on whatever you buy....
