In the northeast region of America, Bob’s Stores, a discount retailer that has been in operation for over seven decades, is closing down all 21 of its locations. The company recently filed for Chapter 11 bankruptcy protection and will soon liquidate its inventory in the upcoming weeks.
Bob’s Stores president, Dave Barton, expressed regret over the financial circumstances that led to the decision to liquidate the stores. These stores have been an essential part of local communities for nearly 70 years, being present during significant moments in customers’ lives.
Half of Bob’s Stores are located in Connecticut, with the remaining 11 spread across Massachusetts, New Hampshire, New Jersey, New York and Rhode Island. Customers are advised to visit their nearest location soon to take advantage of steep discounts ranging from 30% to 70% off on all merchandise. Gift cards can still be used until July 14.
The roots of Bob’s Stores trace back to 1954 when it was established as “Bob’s Surplus” in Connecticut. Over the years, it was acquired by TJX before being sold to private equity firms. In recent times, GoDigital Media Group acquired these stores. Unfortunately, Bob’s is one of many retailers facing bankruptcy in 2024 due to declining consumer spending and rising inflation.