Bob’s Stores, a retailer that sells discount clothing and shoes, is closing all of its stores in Connecticut and Massachusetts due to a “liquidity crisis.” The company filed for Chapter 11 bankruptcy, according to its owner. Dave Barton, the president of Bob’s Stores, expressed regret over the financial position that led to the decision to liquidate the stores. He acknowledged the long-standing presence of Bob’s Stores in local communities for nearly 70 years and the significant impact on customers’ lives.
The list of Bob’s Stores closing includes locations in Connecticut, Massachusetts, New York, New Hampshire, New Jersey, and Rhode Island. Store addresses have been provided for customers to know which stores will be closing. The liquidation sales at Bob’s Stores have already begun, offering discounts ranging from 30% to 70% off regular retail prices. Customers can also purchase store fixtures, furniture, and equipment at discounted prices during this time. The company will continue to accept gift cards and exchanges until July 14th, allowing customers to use these options before the stores permanently close.
Bob’s Stores was originally established by founder Bob Lapidus as “Bob’s Surplus” in Middletown, Connecticut in 1954. Over the years it has undergone ownership changes including being acquired by TJX Companies in 2003 before being sold to private equity firms in 2008. The closure of retail stores is a growing trend across the country as companies struggle with bankruptcies and inflation impacts consumer shopping habits.
