Bob’s Stores, a discount retailer located in the northeast United States, is closing down after operating for seven decades. The company has recently filed for Chapter 11 bankruptcy protection and will be permanently closing all 21 of its locations. Inventory liquidation will take place in the upcoming weeks.
In a press release, Dave Barton, the president of Bob’s Stores, expressed regret over the financial circumstances that led to the decision to liquidate the business. The company has been a key presence in local communities for nearly 70 years, with customers often recalling memorable moments associated with the store.
The majority of Bob’s Stores are in Connecticut, with the rest spread across Massachusetts, New Hampshire, New Jersey, New York, and Rhode Island. The company is currently offering significant discounts ranging from 30% to 70% on its products, including shoes and clothing. Customers are encouraged to visit their nearest location early to take advantage of the best selection of discounted merchandise before it sells out, and gift cards can still be used until July 14.
Founded in 1954 as “Bob’s Surplus” in Connecticut, Bob’s Stores was later acquired by TJX Companies, the parent company of Marshalls and T.J.Maxx, in 2003. The retailer was then sold to private equity firms and, most recently, to GoDigital Media Group in 2022. Bob’s Stores is the latest addition to the list of retail bankruptcies in 2024, which have been influenced by reduced consumer spending and increased inflation.