Michelle ThompsonBob’s Stores, a discount retailer based in northeastern America, is closing its doors after operating for seven decades.
The company recently filed for Chapter 11 bankruptcy protection and will permanently shut down all 21 of its locations. Liquidation of inventory will take place over the coming weeks.
“We regret that our financial position necessitated the liquidation of Bob’s Stores,” said Dave Barton, president of Bob’s Stores, in a press release. “Bob’s has been a pillar in our local communities for nearly 70 years, and we know our customers remember us for being there during major moments in their lives.”
Half of Bob’s Stores are located in Connecticut, with the remaining stores in Massachusetts, New Hampshire, New Jersey, New York, and Rhode Island. All locations are offering significant discounts ranging from 30% to 70% off on all merchandise, including shoes and clothing.
“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 stated. Gift cards will be honored until July 14.
Founded in 1954 in Connecticut as “Bob’s Surplus,” the store was acquired by TJX, the parent company of Marshalls and T.J.Maxx, in 2003. Later, it was sold to private equity firms and eventually to GoDigital Media Group in 2022.
Bob’s Stores’ closure adds to a growing list of retail bankruptcies in 2024, reflecting challenges from reduced consumer spending and rising inflation.
