Beloved Discount Retailer Will Shutter All Remaining Locations After 70 Years

Jul 04, 2024 02:02 AM - 4 months ago 58772

A beloved Northeastern concatenation is officially shutting its doors for bully aft filing for Chapter 11 bankruptcy a fewer weeks ago.

Bob's Stores will adjacent each 21 remaining locations crossed Connecticut, Massachusetts, New York, New Hampshire, New Jersey and Rhode Island.

Related: Music Retailer Sam Ash Closing All Locations After a Century

"We regret that our financial position necessitated nan liquidation of Bob's Stores," Dave Barton, president of Bob's Stores, said successful a company release. "Bob's has been a stalwart of our section communities for astir 70 years, and we cognize our customers retrieve america arsenic having been location for awesome moments successful their lives."

The discount retailer is champion known for its debased prices connected sportswear and different clothing items.

The institution began liquidating inventory astatine its remaining locations connected June 28 and is holding going-out-of-business income that connection customers discounts of up to 70%.

Certain stores will besides waste shop fixtures, furniture, equipment, and different merchandise.

Bob's Stores will grant gift cards and shop in installments done July 14, erstwhile nan business will officially adjacent for good.

Related: Express Files for Chapter 11 Bankruptcy, Closing Stores

TJX acquired nan retailer successful 2003; then, TJX sold it to backstage equity firms Versa Capital Management and Crystal Capital successful 2008.

Bob's changed hands again successful 2017 earlier GoDigital Media Group bought it successful 2022.

Bob's Stores joins dozens of different chains, for illustration Express and euphony retailer Sam Ash, which person revenge for Chapter 11 this twelvemonth and person been forced to shutter decades-old brick-and-mortar stores crossed nan U.S.

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