Bob’s Stores is closing all of its stores after 70 years in business
The retailer recently filed for Chapter 11 bankruptcy protection, and as a result, will soon permanently close all 21 of its locations. It will liquidate its inventory in the coming weeks.
“We regret that our financial position necessitated the liquidation of Bob’s Stores,” Dave Barton, president of Bob’s Stores, said in a press release. “Bob’s has been a stalwart of our local communities for nearly 70 years, and we know our customers remember us as having been there for major moments in their lives.”
Bob’s has half of its stores in Connecticut, with the remaining in Massachusetts, New Hampshire, New Jersey, New York and Rhode Island. All locations are offering steep discounts on everything the company sells, ranging from shoes to clothing. Discounts span from 30% to 70% off, Bob’s said.
“Customers are encouraged to visit their nearest Bob’s location early to take full advantage of the best selection of discounted merchandise before it sells out,” the company said. Gift cards can still be used until July 14.
Bob’s started in 1954 in Connecticut, when it was originally called “Bob’s Surplus.” It was acquired by Marshalls and T.J.Maxx’s parent company TJX in 2003 and was later sold to private equity firms five years later. In 2022, Bob’s Stores was sold to GoDigital Media Group.
Bob’s joins a growing number of retail bankruptcies in 2024, spurred from a slowdown in consumer spending and rising inflation.
"Despite being recently sold to GoDigital Media Group in 2022, the financial struggles resulted in Bob's Stores becoming another instance of retail bankruptcies in 2024."
"Following the Chapter 11 filing, Bob's Stores is not just closing its physical locations but also liquidating its inventory as part of its business operations."
