EX-99.1 2 ex99_1.htm EXHIBIT 99.1 ex99_1.htm
Exhibit 99.1
   
Monthly Operating Report
     
CASE  NAME: The Bombay Company, Inc. (1)
  
ACCRUAL BASIS
     
CASE  NUMBER: 07-44084-dml-11
    
     
JUDGE: D. Michael Lynn
    

UNITED  STATES  BANKRUPTCY  COURT

NORTHERN  DISTRICT OF TEXAS

DIVISION  6

MONTHLY  OPERATING  REPORT

MONTH  ENDING: APRIL 2008

IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY): IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.


RESPONSIBLE  PARTY:
    
     
/s/ Elaine D. Crowley
  
Senior Vice President, Chief Financial Officer and Treasurer
ORIGINAL  SIGNATURE  OF  RESPONSIBLE  PARTY
  
TITLE
     
Elaine D. Crowley
  
June 25, 2008
PRINTED NAME OF RESPONSIBLE PARTY
  
DATE
     
PREPARER:
    
/s/ Charlotte B. Stadler
  
Assistant Controller
ORIGINAL  SIGNATURE  OF  PREPARER
  
TITLE
     
Charlotte B. Stadler
  
June 25, 2008
PRINTED NAME OF PREPARER
  
DATE

Notes:
[1]
A consolidated monthly operating report has been submitted for the following debtor entities: The Bombay Company, Inc. (Case No. 07-44084-dml-11), The Bombay Furniture Company, Inc. (Case No. 07-44085-dml-11), BBA Holdings, LLC (Case No.07-44086-dml-11), Bombay International, Inc. Case No. (07-44087-dml-11), Bailey Street Trading Company (Case No. 07-44088-dml-11), and  BMAJ, Inc. (Case No. 07-44061-dml-11). Jointly Administered Under The Bombay Company, Inc. (Case No. 07-44084-dml-11), (collectively, the "Debtors").

[2]
The Debtors operate under a retail (52-53 week) fiscal year, which ends on the Saturday nearest January 31.  For the purposes of the monthly operating reports, the following month-end dates have been reported: (1) September 2007 ended on October 6, 2007; (2) October 2007 ended on November 3, 2007; (3) November 2007 ended on December 1, 2007; (4) December 2007 ended on January 5, 2008; (5) January 2008 ended on February 2, 2008; (6) February 2008 on March 1, 2008; (7) March 2008 on April 5, 2008; (8) April 2008 on May 3, 2008; and May 2008 on May 31, 2008.

 
 
 

 
   
CASE  NUMBER: 07-44084-dml-11
  

                                 
COMPARATIVE  BALANCE  SHEET
                              
                                 
     
Petition Date
    
December 2007
    
March 2008
    
April 2008
    
May 2008
  
ASSETS
  
9/20/07
                          
1.
CASH & CASH EQUIVALENTS (1)
   $ 3,145,672     $ 29,646,525     $ 25,980,959     $ 25,918,924     $ 25,268,932  
2.
ACCOUNTS  RECEIVABLE  (NET)
   $ 220,767     $ 270,903     $ 0     $ 0     $ 0  
3.
INVENTORY
   $ 104,233,126     $ 15,142,324     $ 0     $ 0     $ 0  
4.
NOTES  RECEIVABLE
   $ 573,167     $ 586,953     $ 0     $ 0     $ 0  
5.
PREPAID  EXPENSES
   $ 8,411,346     $ 9,769,006     $ 1,478,286     $ 1,433,232     $ 1,388,178  
6.
OTHER CURRENT ASSETS
   $ 1,514,755     $ 4,058,941     $ 4,955,665     $ 4,839,753     $ 4,499,927  
7.
TOTAL  CURRENT  ASSETS
   $ 114,953,161     $ 29,828,127     $ 6,433,951     $ 6,272,985     $ 5,888,105  
8.
PROPERTY,  PLANT  &  EQUIPMENT
   $ 157,137,582     $ 145,303,849     $ 2,330,915     $ 2,330,915     $ 2,330,915  
9.
LESS:  ACCUMULATED DEPRECIATION / DEPLETION
   $ (102,575,667 )   $ (97,766,051 )   $ (2,215,695 )   $ (2,247,505 )   $ (2,279,315 )
10.
NET PROPERTY, PLANT & EQUIPMENT
   $ 54,561,915     $ 47,537,798     $ 115,220     $ 83,410     $ 51,600  
11.
DUE FROM INSIDERS
   $ (854,896 )   $ 2,767,061     $ 1,664,808     $ 1,664,808     $ 1,664,808  
12.
OTHER  ASSETS  -  NET  OF AMORTIZATION (2)
   $ 2,024,046     $ 1,632,093     $ 178,754     $ 160,050     $ 141,345  
13.
OTHER (ATTACH LIST)
                                        
14.
TOTAL ASSETS
   $ 173,829,898     $ 111,411,604     $ 34,373,692     $ 34,100,177     $ 33,014,790  
POSTPETITION  LIABILITIES
                                        
15.
ACCOUNTS  PAYABLE
           $ 3,248,359     $ 2,222,774     $ 1,879,020     $ 1,854,689  
16.
TAXES  PAYABLE
           $ 4,471,126     $ 242,680     $ 270,370     $ 170,287  
17.
PROFESSIONAL  FEES
           $ 2,393,833     $ 903,895     $ 813,345     $ 928,383  
18.
DEFERRED REVENUE
           $ 18,041,877     $ 0     $ 0     $ 0  
19.
OTHER POST PETITION LIABILITIES
           $ 6,270,802     $ 430,288     $ 423,243     $ 424,155  
20.
TOTAL POSTPETITION LIABILITIES
           $ 34,425,997     $ 3,799,637     $ 3,385,978     $ 3,377,514  
PREPETITION  LIABILITIES
                                        
21.
SECURED  DEBT
   $ 71,824,592     $ 0     $ 0     $ 0     $ 0  
22.
LIABILITIES SUBJECT TO COMPROMISE (3)
   $ 81,136,347     $ 67,325,321     $ 28,489,352     $ 28,864,028     $ 28,194,341  
23.
TOTAL  PREPETITION  LIABILITIES
   $ 152,960,939     $ 67,325,321     $ 28,489,352     $ 28,864,028     $ 28,194,341  
24.
TOTAL LIABILITIES
   $ 152,960,939     $ 101,751,318     $ 32,288,989     $ 32,250,006     $ 31,571,855  
EQUITY
                                          
25.
PREPETITION  OWNERS'  EQUITY
   $ 20,868,959     $ 20,868,959     $ 20,868,959     $ 20,868,959     $ 20,868,959  
26.
POSTPETITION  CUMULATIVE
                                        
 
PROFIT  OR  (LOSS)
           $ (11,208,673 )   $ (18,784,256 )   $ (19,018,788 )   $ (19,426,024 )
27.
DIRECT  CHARGES  TO  EQUITY
                                        
 
(ATTACH  EXPLANATION)
                                        
28.
TOTAL  EQUITY
   $ 20,868,959     $ 9,660,286     $ 2,084,703     $ 1,850,171     $ 1,442,935  
29.
TOTAL  LIABILITIES  &
                                        
 
OWNERS'  EQUITY
   $ 173,829,898     $ 111,411,604     $ 34,373,692     $ 34,100,177     $ 33,014,790  

Notes:
[1]
As historically reported on the Debtors' SEC filings, cash and cash equivalents includes cash in the operating accounts, credit card receivables, store depository accounts, and foreign office accounts.  In addition, cash and cash equivalents for the months ended after September 2007 include cash collateralized letters of credit.
[2]
Balance includes capitalized software and other intangibles.

Item 6: Other Current Assets
  
Petition Date
    
December 2007
    
March 2008
    
April 2008
    
May-08
  
Employee Receivables
   $ (3,176 )   $ 9,150     $ 6,119     $ 1,912     $ 1,230  
Miscellaneous Receivables
     1,188,193       1,303,630       1,522,069       1,501,523       1,350,434  
DOM In transit - Non Merchandise
     3,666       0       0       0       0  
Deposits
     311,825       2,731,914       1,889,555       1,798,396       1,610,341  
Treasury Bond
     37,922       37,922       37,922       37,922       37,922  
Due from JV
     0       0       0       0       0  
Chase Merchant Services - MC/V Receivable
     0       0       1,500,000       1,500,000       1,500,000  
Intl Claim Receivable
     (23,675 )     (23,675 )     0       0       0  
    $ 1,514,755     $ 4,058,941     $ 4,955,665     $ 4,839,753     $ 4,499,927  
                                         
Item 19: Other Post Petition Liabilities
                                        
Accrued Expenses/Inventory
           $ 4,116,402     $ 123,573     $ 150,000     $ 150,000  
Customer Prepayments
             (16,724 )     0       0       0  
Accrued Salaries
             2,171,124       306,715       273,243       274,155  
            $ 6,270,802     $ 430,288     $ 423,243     $ 424,155  

[3]
During January 2008, the Debtors eliminated certain reserves and accruals as part of the Debtors' efforts to wind down the operations and financial records.  The decrease of liabilities subject to compromise, at the end of January 2008, does not signify payments being made on such liabilities.
[4]
For presentation purposes, the Petition Date, quarter-end, and months within the current quarter have been reflected.  Please refer to prior monthly operating reports for previous months not shown.

 
2 of 11
 

   
Monthly Operating Report
     
CASE  NAME: The Bombay Company, Inc.
  
ACCRUAL BASIS-2
     
CASE  NUMBER: 07-44084-dml-11
    

INCOME STATEMENT
                                    
     
9/20/07 to 12/31/07
    
1/1/08 to 3/31/08
    
April 2008
    
May 2008
    
June 2008
    
QUARTER
  
REVENUES
    
TOTAL
    
TOTAL
                      
TOTAL
  
1.
GROSS  REVENUES
   $ 201,870,774     $ 14,363,269     $ 0     $ 0           $ 0  
2.
LESS:  RETURNS & DISCOUNTS
   $ (3,318,383 )   $ (239,828 )   $ 0     $ 0           $ 0  
3.
NET SALES
   $ 198,552,391     $ 14,123,441     $ 0     $ 0           $ 0  
4.
DELIVERY INCOME
   $ 318,482     $ 4,569     $ 0     $ 0           $ 0  
5.
NET REVENUE
   $ 198,870,873     $ 14,128,010     $ 0     $ 0           $ 0  
COST  OF  GOODS  SOLD
                                              
6.
STORE COGS
   $ 94,281,406     $ 13,904,460     $ 0     $ 0           $ 0  
7.
SHRINK
   $ 1,783,774     $ 1,297,376     $ 0     $ 0           $ 0  
8.
DC EXPENSE
   $ 5,604,388     $ 1,067,764     $ 886     $ (25,663 )         $ (24,777 )
9.
DC FRIEGHT TO STORES
   $ 5,304,558     $ (25,730 )   $ 0                   $ 0  
10.
HOME OFFICE ADJUSTMENTS
   $ 4,743,215     $ (123,485 )   $ (45,267 )   $ 10,276           $ (34,991 )
11.
TOTAL  COST  OF  GOODS  SOLD
   $ 111,717,341     $ 16,120,385     $ (44,381 )   $ (15,387 )   $ 0     $ (59,768 )
12.
GROSS  PROFIT
   $ 87,153,532     $ (1,992,375 )   $ 44,381     $ 15,387     $ 0     $ 59,768  
OPERATING  EXPENSES
                                                
13.
BUYING AND OCCUPANCY COSTS
   $ 6,764,276     $ (31,714,565 )   $ (188,918 )   $ (74,852 )           $ (263,770 )
14.
PAYROLL
   $ 5,433,907     $ (196,271 )   $ 241,358     $ 138,937             $ 380,295  
15.
HOME OFFICE OCCUPANCY
   $ 1,257,963     $ 371,270     $ 145,995     $ 43,170             $ 189,165  
16.
CREDIT AND COLLECTIONS
   $ 335,680     $ 802,028     $ 17,148     $ 3,775             $ 20,923  
17.
GENERAL
   $ (4,289,795 )   $ 38,692,969     $ (246,906 )   $ (31,852 )           $ (278,758 )
18.
INSURANCE AND TAXES
   $ 2,971,891     $ (713,556 )   $ 25,930     $ (55,746 )           $ (29,816 )
19.
PROFESSIONAL  SERVICES
   $ 168,457     $ (10,515 )   $ 6,710     $ 10,613             $ 17,323  
20.
JV EXPENSE, NET
   $ 86,257,567     $ (1,928,374 )   $ 0     $ 0             $ 0  
21.
OTHER (Training, travel, public company exp.)
   $ 222,067     $ 86,636     $ 2,089     $ 1,537             $ 3,626  
22.
TOTAL  OPERATING  EXPENSES
   $ 99,122,014     $ 5,389,622     $ 3,406     $ 35,582     $ 0     $ 38,988  
23.
INCOME  BEFORE  NON-OPERATING
                                                
24.
INCOME & EXPENSE
   $ (11,968,482 )   $ (7,381,997 )   $ 40,975     $ (20,195 )   $ 0     $ 20,780  
OTHER  INCOME  &  EXPENSES
                                                
25.
NON-OPERATING INCOME (ATT.  LIST) (3)
   $ 12,996,875     $ 1,240,093     $ 26,331     $ 13,714             $ 40,045  
26.
NON-OPERATING EXPENSE (ATT.  LIST)
   $ 4,270     $ 0     $ 0                     $ 0  
27.
INTEREST  EXPENSE
   $ 543,587     $ 0                             $ 0  
28.
DEPRECIATION / DEPLETION
   $ 0     $ 0     $ 0                     $ 0  
29.
AMORTIZATION
   $ 0     $ 0     $ 0                     $ 0  
30.
ROYALTY FEE
   $ 910,617     $ 0     $ 0                     $ 0  
31.
NET  OTHER INCOME & EXPENSES
   $ (11,538,401 )   $ (1,240,093 )   $ (26,331 )   $ (13,714 )   $ 0     $ (40,045 )
REORGANIZATION  EXPENSES
                                                
32.
PROFESSIONAL  FEES
   $ 7,044,676     $ 1,394,140     $ 287,213     $ 400,755             $ 687,968  
33.
U.S.  TRUSTEE  FEES
   $ 1,500     $ 0     $ 14,625                     $ 14,625  
34.
OTHER (2)
   $ 3,732,844     $ 0                             $ 0  
35.
TOTAL  REORGANIZATION  EXPENSES
   $ 10,779,020     $ 1,394,140     $ 301,838     $ 400,755     $ 0     $ 702,593  
36.
INCOME  TAX
   $ (428 )   $ 39,539                             $ 0  
37.
NET  PROFIT  (LOSS)
   $ (11,208,673 )   $ (7,575,583 )   $ (234,532 )   $ (407,236 )   $ 0     $ (641,768 )
 
 
3 of 11
 

   
Monthly Operating Report
     
CASE  NAME: The Bombay Company, Inc.
  
ACCRUAL BASIS-3
     
CASE  NUMBER: 07-44084-dml-11
    

CASH  RECEIPTS  AND
  
9/20 to 12/31/07
    
1/1/08 to 3/31/08
    
April 2008
    
May 2008
  
June 2008
  
QUARTER
  
DISBURSEMENTS
  
TOTAL
    
TOTAL
                  
TOTAL
  
1.
CASH - BEGINNING  OF  MONTH
   $ 881,175     $ 10,543,219     $ 21,228,504     $ 20,496,620       $ 21,228,504  
RECEIPTS  FROM  OPERATIONS
                                          
2
TOTAL  OPERATING  RECEIPTS
   $ 189,541,305     $ 21,752,716     $ 0     $ 0       $ 0  
 
NON - OPERATING RECEIPTS
                                          
3
LOANS  &  ADVANCES  (REPAYMENT)
   $ 5,998,804                               $ 0  
4
SALE  OF  ASSETS
   $ 37,122,607     $ 16,722,419     $ 0     $ 0       $ 0  
5
REIMBURSEMENT (TO)/FROM LIQUIDATORS
   $ (130,545,563 )   $ (9,257,036 )   $ 0     $ 0       $ 0  
6
OTHER  (ATTACH  LIST)
   $ 0     $ 3,661,198     $ 369,500     $ 384,745       $ 754,245  
7
TOTAL  NON-OPERATING  RECEIPTS
   $ (87,424,152 )   $ 11,126,581     $ 369,500     $ 384,745       $ 754,245  
8
TOTAL  RECEIPTS
   $ 102,117,153     $ 32,879,297     $ 369,500     $ 384,745       $ 754,245  
9
TOTAL  CASH  AVAILABLE
   $ 102,998,328     $ 53,101,742     $ 21,598,004     $ 20,881,365       $ 42,479,369  
OPERATING  DISBURSEMENTS
                                          
10
PAYROLL, PAYROLL TAXES, BENEFITS
   $ 23,395,881     $ 9,406,716     $ 375,535     $ 219,794       $ 595,329  
11
SALES,  USE  &  OTHER  TAXES  PAID
   $ 10,365,311     $ 6,472,545     $ 11,237     $ 40,858       $ 52,096  
12
MERCHANDISE
   $ 11,828,206     $ 63,986     $ 0     $ 0       $ 0  
13
GENERAL AP
   $ 3,471,309     $ 327,953     $ 124,272     $ 233,062       $ 357,333  
14
RENT & OCCUPANCY
   $ 26,016,571     $ 1,363,876     $ 85,470     $ 153,309       $ 238,779  
15
FREIGHT
   $ 5,714,718     $ 216,980     $ 0     $ 945       $ 945  
16
CRITICAL VENDOR PAYMENTS
   $ 2,838,397     $ 0     $ 0               $ 0  
17
OTHER  (ATTACH  LIST)
   $ 4,030,155     $ 1,229,590     $ 30,260     $ 76,973       $ 107,233  
18
TOTAL  OPERATING  DISBURSEMENTS
   $ 87,660,548     $ 19,081,645     $ 626,774     $ 724,942       $ 1,351,715  
REORGANIZATION  EXPENSES
                                          
19
PROFESSIONAL  FEES
   $ 3,194,296     $ 2,842,246     $ 376,449     $ 286,029       $ 662,479  
20
U.S.  TRUSTEE  FEES
   $ 1,500             $ 14,625               $ 14,625  
21
OTHER  (ATTACH  LIST)
   $ 1,598,766     $ 270,120     $ 83,536     $ 17,896       $ 101,432  
22
TOTAL  REORGANIZATION  EXPENSES
   $ 4,794,562     $ 3,112,366     $ 474,610     $ 303,925       $ 778,536  
23
TOTAL  DISBURSEMENTS (1)
   $ 92,455,110     $ 22,194,011     $ 1,101,384     $ 1,028,867       $ 2,130,251  
24
NET  CASH  FLOW
   $ 9,662,044     $ 10,685,285     $ (731,884 )   $ (644,122 )     $ (1,376,006 )
25
CASH - END OF MONTH (2)
   $ 10,543,219     $ 21,228,504     $ 20,496,620     $ 19,852,498       $ 19,852,498  

Note:
[1]
All of the Debtors' disbursements are made from The Bombay Company, Inc. (Case No. 07-44084-dml-11) and The Bombay Furniture Company, Inc. (Case No. 07-44085-dml-11).  Disbursements by Debtor have been are as follows:

Total Disbursements
  
1/1/08 to 3/31/08
TOTAL
    
April 2008
    
May 2008
    
June 2008
    
4/1/08 to 6/30/08
Total Disbursements
  
The Bombay Company, Inc. (07-44084-dml-11)
   $ 22,189,911     $ 1,101,384     $ 1,028,867           $ 2,130,251  
The Bombay Furniture Company, Inc. (07-44085-dml-11)
   $ 4,100                           $ -  
    $ 22,194,011     $ 1,101,384     $ 1,028,867     $ -     $ 2,130,251  

[2]
Receipts and disbursements for March 2008 are through March 28, 2008

   
1/1/08 to 3/31/08
TOTAL
    
April 2008
    
May 2008
    
June 2008
    
4/1/08 to 6/30/08
Total Disbursements
  
                               
Item 6: Other Income
                              
LC Cash Collateral Returned
                             -  
Home Office Receipts
     1,510,998       369,500       384,745             754,245  
US IP
     2,000,000                             -  
      -                             -  
Total
   $ 3,510,998     $ 369,500     $ 384,745     $ -     $ 3,660,998  
                                         
Item 17: Other Operating Disbursements
                                        
International Offices
             -                       -  
Other Admin Expense
             -                       -  
Other Corporate Expense
             30,260       76,973               107,233  
Inventory Taking
                                     -  
Total
   $ -     $ 30,260     $ 76,973     $ -     $ 107,233  
                                         
Item 21: Other Reorganization Expenses
                                        
Completion Bonus
             83,536       17,896               101,432  
Total
   $ -     $ 83,536     $ 17,896     $ -     $ 101,432  
 
 
4 of 11
 

   
Monthly Operating Report
     
CASE  NAME: The Bombay Company, Inc.
  
ACCRUAL BASIS-4
     
CASE  NUMBER: 07-44084-dml-11
    

     
SCHEDULE
    
MONTH
    
MONTH
    
MONTH
    
MONTH
  
ACCOUNTS RECEIVABLE AGING (1)
  
AMOUNT
    
Oct-07
    
Dec-07
    
Mar-08
    
May-08
  
1.
  0-30         $ 0     $ 0     $ 0     $ 0  
2.
  31-60         $ 0     $ 0     $ 0     $ 0  
3.
  61-90         $ 0     $ 0     $ 0     $ 0  
4.
  91+         $ 987,208     $ 987,208     $ 0     $ 0  
5.
TOTAL ACCOUNTS RECEIVABLE
   $ 0     $ 987,208     $ 987,208     $ 0     $ 0  
6.
AMOUNT CONSIDERED UNCOLLECTIBLE
           $ (768,319 )   $ (768,319 )   $ 0     $ 0  
7.
ACCOUNTS RECEIVABLE (NET)
   $ 0     $ 218,889     $ 218,889     $ 0     $ 0  

                                 
 AGING OF POSTPETITION TAXES AND PAYABLES              
MONTH:
     May 2008        
                                 
     
 0-30
      31-60      61-90      91+        
TAXES  PAYABLE
  
DAYS
    
DAYS
    
DAYS
    
DAYS
    
TOTAL
  
1.
FEDERAL
   $ 0                                
2.
STATE
   $ 0                                
3.
LOCAL
   $ 0                                
4.
SALES TAX
   $ 0                             $ 0  
5.
TOTAL  TAXES  PAYABLE
   $ 0     $ 0     $ 0     $ 0     $ 0  

                           
STATUS  OF  POSTPETITION  TAXES
        
MONTH:
    
May 2008
        
                           
     
BEGINNING
    
AMOUNT
          
ENDING
  
     
TAX
    
WITHHELD AND/
    
AMOUNT
    
TAX
  
FEDERAL
  
LIABILITY*
    
0R ACCRUED
    
PAID
    
LIABILITY
  
1.
WITHHOLDING
   $ 0     $ 32,486     $ 32,486     $ 0  
2.
FICA-EMPLOYEE
   $ 0     $ 5,740     $ 5,740     $ 0  
3.
FICA-EMPLOYER
   $ 5,417     $ 2,771     $ 5,740     $ 2,448  
4.
UNEMPLOYMENT
   $ 2     $ 0     $ 2     $ 0  
5.
INCOME
   $ 0     $ 0     $ 0     $ 0  
6.
OTHER PAYROLL TAXES
   $ 1,395     $ 4,289     $ 4,788     $ 895  
7.
TOTAL  FEDERAL  TAXES
   $ 6,814     $ 45,286     $ 48,756     $ 3,343  
STATE  AND  LOCAL
                                
8.
WITHHOLDING
   $ 0     $ 40     $ 40     $ 0  
9.
SALES
   $ 0     $ 0     $ 0     $ 0  
10.
EXCISE
   $ 0     $ 0     $ 0     $ 0  
11.
UNEMPLOYMENT
   $ 12     $ 41     $ 51     $ 1  
12.
OTHER PAYROLL TAXES
   $ 0     $ 0     $ 0     $ 0  
13.
REAL  PROPERTY
   $ 59,846     $ 0     $ 0     $ 59,846  
14
PERSONAL  PROPERTY
   $ 412,312     $ 0       10,635     $ 401,677  
15
FRANCHISE
   $ 135,946     $ 0       6,763     $ 129,183  
16
BUSINESS LICENSE TAX
   $ 25,927     $ 0       3,797     $ 22,130  
17
TOTAL  STATE  &  LOCAL
   $ 634,043     $ 81     $ 21,286     $ 612,838  
18
TOTAL  TAXES
   $ 640,857     $ 45,367     $ 70,042     $ 616,181  

*
The beginning tax liability should represent the liability from the prior month or, if this is the first operating report, the amount should be zero.
 
[1]
For presentation purposes, quarter-end and months within the current quarter have been reflected.  Please refer to prior monthly operating reports for previous months not shown.

 
5 of 11
 

   
Monthly Operating Report
     
CASE  NAME: The Bombay Company, Inc.
  
ACCRUAL BASIS-5
     
CASE  NUMBER: 07-44084-dml-11
    

The debtor in possession must complete the reconciliation below for each bank account, including all general, payroll and tax accounts, as well as all savings and investment accounts, money market accounts, certificates of deposit, government obligations, etc. Accounts with restricted funds should be identified by placing an asterisk next to the account number. Attach additional sheets if necessary.

   
MONTH:
    
May 2008
BANK  RECONCILIATIONS
        
   
Account #1
Account #2
Account #3
  
A.         BANK:
        
B.         ACCOUNT  NUMBER:
      
TOTAL
C.         PURPOSE  (TYPE):
        
1.
  
BALANCE  PER  BANK  STATEMENT
  
SEE MOR 5 ATTACHMENT
  
2.
  
ADD:  TOTAL  DEPOSITS  NOT  CREDITED
                        
3.
  
SUBTRACT:  OUTSTANDING  CHECKS
                        
4.
  
OTHER  RECONCILING  ITEMS
                        
5.
  
MONTH  END  BALANCE  PER  BOOKS
   $ 0     $ 0     $ 0     $ 0  
6.
  
NUMBER  OF  LAST  CHECK  WRITTEN
                                

INVESTMENT ACCOUNTS
                
                   
   
DATE OF
TYPE OF
  
PURCHASE
    
CURRENT
  
BANK,  ACCOUNT  NAME  &  NUMBER
PURCHASE
INSTRUMENT
  
PRICE
    
VALUE
  
7.
NONE
                
8.
                  
9.
                  
10.
                  
11.
TOTAL  INVESTMENTS
       $ 0     $ 0  
                       
CASH
                    
                       
12.
CURRENCY ON HAND
               $ 0  
                       
13.
TOTAL  CASH  -  END  OF MONTH
               $ 0  
 
 
6 of 11
 

MOR 5 Attachment - Bank Reconciliations
MONTH: May 2008
 
BANK RECONCILIATIONS
  
ACCOUNT # 1
    
ACCOUNT # 2
    
ACCOUNT # 3
    
ACCOUNT # 4
    
STORES
    
CONSOLIDATED
  
A.     BANK:
  
Wells Fargo
    
Wells Fargo
    
Wells Fargo
    
Wells Fargo
    
Various
    
Various
  
B.     ACCOUNT NUMBER:
    412-1166318      412-1166300      960-0058583      960-0058598    
various
    
Various
  
C.     PURPOSE (TYPE):
  
Concentrator
    
Blocked
    
Accounts Payable
    
Payroll
    
Store Deposits
    
Store deposits
  
1.     Balance per bank statement
   $ 4,787.00     $ -     $ -     $ -     $ -     $ -  
2.     Add: Total deposits not credited
   $ -             $ 189,117.42     $ (64,790.64 )   $ -     $ -  
3.     Subtract: Outstanding checks
                   $ (382,889.48 )   $ (44,214.67 )   $ -     $ -  
4.     Other reconciling items
   $ 20,134,812.56             $ (2,422.29 )   $ 15,751.22     $ -     $ -  
5.     Month end balance per books
   $ 20,139,599.56             $ (196,194.35 )   $ (93,254.09 )   $ -     $ -  
6.     Number of last check written
                     1178494       510369                  

Store Accounts
  
STORES
                                            
BANK RECONCILIATIONS
  
Store 161
    
Store 162
    
Store 164
    
Store 166
    
Store 167
    
Store 168
    
Store 175
    
Store 188
  
A.     BANK:
  
FROST
    
UNITED CO.
    
NAT. CITY
    
FIDELITY
    
CITIZENS
    
WRENTHAM
    
SECURITY
    
JOHNSON
  
B.     ACCOUNT NUMBER:
    420000221      2036105957      389048570      168400657      6100151980      16004061      906336      1000431649  
C.     PURPOSE (TYPE):
  
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
  
1.     Balance per bank statement
   $ -     $ -     $ -     $ -     $ -     $ -     $ -     $ -  
2.     Add: Total deposits not credited
                                                                
3.     Subtract: Outstanding checks
                                                                
4.     Other reconciling items
                   $ -     $ -                                  
5.     Month end balance per books
                   $ -     $ -     $ -     $ -     $ -     $ -  
6.     Number of last check written
                                                                

Store Accounts
  
STORES
                                            
BANK RECONCILIATIONS
  
Store 189
    
Store 195
    
Store 198
    
Store 210
    
Store 223
    
Store 224
    
Store 265
    
Store 289
  
A.     BANK:
  
REGIONS
    
REGIONS
    
NORTHWAY
    
CHASE
    
IBC
    
Amsouth Bank
    
Chase
    
Fifth Third Bank
  
B.     ACCOUNT NUMBER:
    6454025679      6454025679      49505      576500454165      5558337101      18570909    
Cons.
      7690895029  
C.     PURPOSE (TYPE):
  
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
  
1.     Balance per bank statement
   $ -     $ -     $ -     $ -     $ -     $ -     $ -     $ -  
2.     Add: Total deposits not credited
                                                                
3.     Subtract: Outstanding checks
                                                                
4.     Other reconciling items
                           $ -                                  
5.     Month end balance per books
           $ -             $ -                             $ -  
6.     Number of last check written
                                                                

Store Accounts
                                                
BANK RECONCILIATIONS
  
Store 298
    
Store 441
    
Store 457
    
Store 488
    
Store 513
    
Store 519
    
Store 520
    
Store 525
  
A.     BANK:
  
Chase
    
Chase
    
West Suburban Bank
    
National City
    
US Bank
    
Security Service Fedeal
    
Bridgehampton National
    
National City
  
B.     ACCOUNT NUMBER:
    780501387565      6106305992      2100037129      585187138      152302951180      4317030071      100193291      705800110  
C.     PURPOSE (TYPE):
  
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
  
1.     Balance per bank statement
   $ -     $ -     $ -     $ -     $ -     $ -             $ -  
2.     Add: Total deposits not credited
                                                                
3.     Subtract: Outstanding checks
                                                                
4.     Other reconciling items
   $ -                                                          
5.     Month end balance per books
   $ -     $ -             $ -     $ -     $ -             $ -  
6.     Number of last check written
                                                                

Store Accounts
                                                
BANK RECONCILIATIONS
  
Store 528
    
Store 696
    
Store 701
    
Store 704
    
Store 825
    
Store 857
    
Store 861
    
Store 893
  
A.     BANK:
  
Canadaigua National
    
CHASE
    
FIFTH THIRD
    
FIFTH THIRD
    
FIFTH THIRD
    
CITIZENS
          
CITIZENS
  
B.     ACCOUNT NUMBER:
    950000601      995010543265      83567335      7340323653      7020840364      6101383222            3308589437  
C.     PURPOSE (TYPE):
  
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
  
1.     Balance per bank statement
   $ -     $ -     $ -     $ -     $ -             $ -     $ -  
2.     Add: Total deposits not credited
                                                                
3.     Subtract: Outstanding checks
                                                                
4.     Other reconciling items
                                                           $ -  
5.     Month end balance per books
   $ -     $ -     $ -     $ -     $ -                     $ -  
6.     Number of last check written
                                                                
 
 
7 of 11
 


Store Accounts
                                    
BANK RECONCILIATIONS
  
Store 896
    
DC 901
    
DC 903
    
DC 905
    
DC 907
    
DC 909
  
A.     BANK:
  
CITIZENS
    
STATE NATIONAL
    
MANUFACTURER'S TRUST
    
BOA
    
CITIZEN'S NATIONAL
    
FIFTH THIRD BANK
  
B.     ACCOUNT NUMBER:
    6101636988      101932200      78070511      3256672959      243133165      7651702099  
C.     PURPOSE (TYPE):
  
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
  
1.     Balance per bank statement
   $ -     $ -     $ -     $ -     $ -     $ -  
2.     Add: Total deposits not credited
                                                
3.     Subtract: Outstanding checks
                                                
4.     Other reconciling items
                                                
5.     Month end balance per books
           $ -     $ -     $ -     $ -     $ -  
6.     Number of last check written
                                                

   
Consolidated Stores
                            
BANK RECONCILIATIONS
  
ACCOUNT # 1
    
ACCOUNT # 2
    
ACCOUNT # 3
    
ACCOUNT # 4
    
ACCOUNT # 5
  
ACCOUNT #6
      
A.     BANK:
  
Wells Fargo
    
PNC
    
Wachovia
    
Chase
    
Suntrust
  
Bank of America
      
B.     ACCOUNT NUMBER:
    4944050095      3095429814      2000013850397      1596058972      7020723321          
   
store deposits
    
store deposits
    
store deposits
    
Store deposits
    
Store deposts
  
Store Deposits
      
C.     PURPOSE (TYPE):
  
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
    
CLOSED (1)
  
CLOSED (1)
  
TOTAL
  
1.     Balance per bank statement
   $ -       0.00     $ -     $ -     $ -       $ -  
2.     Add: Total deposits not credited
   $ -       0.00     $ -     $ -     $ -       $ -  
3.     Subtract: Outstanding checks
   $ -       0.00     $ -     $ -     $ -       $ -  
4.     Other reconciling items
             0.00                                    
5.     Month end balance per books
                                                  
6.     Number of last check written
                                                  

Notes:
[1]
Bank account has been closed and will be rmoved from future monthly operating reports.

 
8 of 11
 

   
Monthly Operating Report
     
CASE  NAME: The Bombay Company, Inc.
  
ACCRUAL BASIS-6
     
CASE  NUMBER: 07-44084-dml-11
    
     
   
MONTH:
May 2008
     
PAYMENTS  TO  INSIDERS  AND  PROFESSIONALS
    

OF THE TOTAL DISBURSEMENTS SHOWN FOR THE MONTH, LIST THE AMOUNT PAID TO INSIDERS (AS DEFINED IN SECTION 101 (31) (A)-(F) OF THE U.S. BANKRUPTCY CODE) AND TO PROFESSIONALS. ALSO, FOR PAYMENTS TO INSIDERS, IDENTIFY THE TYPE OF COMPENSATION PAID (e.g. SALARY, BONUS, COMMISSIONS, INSURANCE, HOUSING ALLOWANCE, TRAVEL, CAR ALLOWANCE, ETC.). ATTACH ADDITIONAL SHEETS IF NECESSARY.

INSIDERS
  
 
         NAME
TYPE  OF
PAYMENT
  
AMOUNT
PAID (1)
    
TOTAL PAID
TO DATE
  
1.
Elaine D. Crowley
Salary
   $ 23,345     $ 209,979  
2.
Don Roach
Salary
   $ 21,061     $ 186,157  
3.
Dave Stewart
Salary
   $ 0     $ 88,758  
4.
Steve Woodward
Salary
   $ 0     $ 18,339  
5.
Mike Veitenheimer
Salary
   $ 0     $ 87,710  
6
Linda Stephenson
Salary
   $ 0     $ 85,596  
7
Elaine D. Crowley
Expense Reimbursement
   $ 143     $ 1,345  
8
Don Roach
Expense Reimbursement
   $ 0     $ 987  
                     
9.
TOTAL  PAYMENTS  TO  INSIDERS
     $ 44,549     $ 678,871  

PROFESSIONALS
  
                             
     
 
            
 
    
 
  
 
              NAME
  
DATE OF COURT
ORDER AUTHORIZING
PAYMENT (2)
    
AMOUNT
APPROVED (2)
    
AMOUNT
PAID
    
TOTAL PAID
TO DATE
    
TOTAL
INCURRED
& UNPAID *
  
1.
Asset Disposition Advisors (1)
    
N/A
       -       -       769,331       510,456  
2.
Baker McKenzie
    
N/A
       5,777       5,777       171,508       20,855  
3.
Haynes and Boone
    
N/A
       72,806       72,806       1,182,952       276,619  
4.
FTI Consulting, Inc. (1)
    
N/A
       39,535       39,535       1,582,559       1,120,008  
5.
Mesirow Financial
    
N/A
       10,464       10,464       188,695       11,736  
6
Cooley Godward Kronish
    
N/A
       127,747       127,747       1,119,321       194,837  
7
Forshey and Prostok
    
N/A
       1,349       1,349       140,437       28,117  
8
Financial Dynamics
    
N/A
       -       -       47,200       -  
9
Lang Mitchner
    
N/A
       1,338       1,338       93,070       14,170  
10
Alix Partners
    
N/A
       -       -       1,426,555       111,646  
11
TOTAL  PAYMENTS  TO  PROFESSIONALS
           $ 259,015     $ 259,015       6,721,629     $ 2,288,444  

*  INCLUDE  ALL  FEES  INCURRED,  BOTH  APPROVED  AND  UNAPPROVED
 
POSTPETITION  STATUS  OF  SECURED  NOTES,  LEASES  PAYABLE  AND  ADEQUATE  PROTECTION  PAYMENTS

     
SCHEDULED
    
AMOUNTS
        
     
MONTHLY
    
PAID
    
TOTAL
  
     
PAYMENTS
    
DURING
    
UNPAID
  
NAME OF CREDITOR
  
DUE
    
MONTH
    
POSTPETITION
  
1.
       -       0       -  
2
TOTAL
   $ -     $ 0       -  

Note:
[1]
Professional fees include accrued and unpaid success fees for FTI Consulting, Inc. and Asset Disposition Advisors of $1 million and $500,000, respectively.
[2]
Per the administrative Order Establishing Procedures for Interim Compensation and Reimbursement of Expenses of Professionals and Committee Members (the “Administrative Order”), entered October 17, 2007, professionals may be paid eighty percent (80%) of the fees and one hundred percent (100%) of the out-of-pocket expenses as set forth in the applicable monthly fee statement if no objections are made within ten (10) days after submission.  On March 6 , 2008, an order was entered to approve interim professional fees for the period of September 20, 2007 through December 31,

 
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Monthly Operating Report
     
CASE  NAME: The Bombay Company, Inc.
  
ACCRUAL  BASIS-7
     
CASE  NUMBER: 07-44084-dml-11
    
     
   
MONTH:
May 2008

QUESTIONNAIRE
      
         
 
YES
NO
1.
HAVE  ANY  ASSETS  BEEN  SOLD  OR  TRANSFERRED  OUTSIDE  THE  NORMAL  COURSE  OF  BUSINESS  THIS  REPORTING  PERIOD?
X [1]
  
2.
HAVE  ANY  FUNDS  BEEN  DISBURSED  FROM  ANY  ACCOUNT  OTHER  THAN  A  DEBTOR  IN  POSSESSION  ACCOUNT?
  
X
3.
ARE ANY POSTPETITION  RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE  FROM RELATED PARTIES?
X [2]
  
4.
HAVE  ANY  PAYMENTS  BEEN  MADE  ON  PREPETITION  LIABILITIES  THIS REPORTING PERIOD?
X [3]
  
5.
HAVE  ANY  POSTPETITION  LOANS  BEEN  RECEIVED BY THE  DEBTOR FROM ANY PARTY?
  
X
6.
ARE  ANY  POSTPETITION  PAYROLL  TAXES  PAST  DUE?
  
X
7.
ARE  ANY  POSTPETITION  STATE  OR  FEDERAL  INCOME  TAXES  PAST  DUE?
  
X
8.
ARE  ANY  POSTPETITION  REAL  ESTATE  TAXES  PAST  DUE?
  
X
9.
ARE  ANY OTHER POSTPETITION  TAXES  PAST  DUE?
  
X
10.
ARE  ANY  AMOUNTS  OWED  TO  POSTPETITION  CREDITORS  DELINQUENT?
  
X
11.
HAVE  ANY  PREPETITION  TAXES  BEEN  PAID  DURING  THE  REPORTING PERIOD?
  
X
12.
ARE ANY WAGE PAYMENTS PAST DUE?
  
X

IF  THE  ANSWER  TO  ANY  OF  THE  ABOVE  QUESTIONS  IS  “YES,”  PROVIDE  A  DETAILED  EXPLANATION  OF  EACH  ITEM.  ATTACH  ADDITIONAL  SHEETS  IF  NECESSARY.
 
[1]
During the reporting period, the Debtors have continued to sell the furniture, fixtures, machinery and equipment and store leases as part of the Debtors' liquidation process approved by the Bankruptcy Court.
[2]
As of the end of the reporting period, intercompany receivables exist with The Bombay Furniture Company of Canada, Inc.
[3]
As authorized by certain first day orders entered by the Bankruptcy Court, the Debtors have made certain permitted payments on pre-petition claims.
 
 
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Monthly Operating Report
     
CASE  NAME: The Bombay Company, Inc.
  
ACCRUAL  BASIS-7
     
CASE  NUMBER: 07-44084-dml-11
    
     
   
MONTH:
May 2008

QUESTIONNAIRE
  
   

INSURANCE
      
     
YES
NO
1.
ARE  WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT?
X
  
2.
ARE  ALL  PREMIUM  PAYMENTS  PAID  CURRENT?
X
  
3.
PLEASE  ITEMIZE  POLICIES  BELOW.
    

IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO," OR IF ANY POLICIES HAVE BEEN CANCELLED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
 
 
 
INSTALLMENT  PAYMENTS
TYPE  OF  POLICY
CARRIER
PERIOD COVERED
PAYMENT AMOUNT & FREQUENCY
General Liability
Federal (Chubb)
January 31, 2008 through June 30, 2008
Annual premium paid to date
Workers Compensation
Federal (Chubb)
January 31, 2008 through June 30, 2008
Annual premium paid to date
Directors & Officers Liability
National Union (AIG)
July 1,2007 through June 30, 2008
Annual premium paid to date
Fiduciary Liability
National Union (AIG)
July 1,2007 through June 30, 2008
Annual premium paid to date
Employee Dishonesty
National Union (AIG)
July 1,2007 through June 30, 2008
Annual premium paid to date
Travel & Accident
Federal (Chubb)
July 1,2007 through June 30, 2008
Annual premium paid to date
Other Crime (K&R)
National Union (AIG)
July 1,2007 through June 30, 2008
Annual premium paid to date


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