TORONTO — Hilco Consumer Capital and Gordon Bros. have completed the acquisition of the intellectual property of The Bombay Company, excluding Canadian assets, in a deal aiming to keep the brand alive.

The assets, including the name and Web address, will be placed in Bombay Brands, a new company formed by Hilco and Gordon Bros. The new owners have said they plan to introduce consumer products through wholesalers and sell them through retail and brand franchisee partners.

Fort Worth, Texas-based specialty retailer Bombay filed for Chapter 11 bankruptcy protection last year, sold its Canadian operations and liquidated its U.S. stores.

Terms of the deal were not disclosed in the release, but court documents showed the joint venture would pay the Bombay estate $1.25 million. In addition, the joint venture would commit $1.5 million and the estate would commit $500,000 in capital to Bombay Brands. The Bombay bankruptcy estate would retain a 25% interest in the new company.

John Collins, chief marketing officer of Hilco Consumer Capital, was named president of Bombay Brands.

James Salter, CEO of Hilco Consumer Capital, said Bombay “has tremendous brand equity in the global marketplace and we believe consumers will continue to embrace the classic styles of the brand moving forward.”