Bob’s Stores, a discount clothing and shoe retailer, recently announced that it will be closing all its locations and liquidating its inventory as part of a Chapter 11 restructuring petition. The press release from Hilco Merchant Resources explained that the going-out-of-business sales will include discounts of 30-70% off on items like workwear, footwear, team wear, and everyday clothing. The sales will also include store fixtures, furniture, and equipment.
Customers with gift cards and merchandise credits will be able to use them until the stores close by July 14. Despite trying to make changes to the company’s structure and operations, Bob’s Stores was unable to secure the necessary finances to continue operations. Therefore, the decision was made to close all 21 stores located throughout Connecticut, Massachusetts, New Hampshire, New Jersey, New York, and Rhode Island.
The liquidation event will be managed by Hilco Merchant Resources and Gordon Brothers. Dave Barton, the president of Bob’s Stores, expressed regret at the necessity of liquidation, acknowledging the long history of the company in local communities. Bob’s Stores has been in business for nearly 70 years and has become a staple in the areas where it operates, offering affordable prices and a wide range of merchandise.
Headquartered in Meriden, Connecticut, Bob’s Stores is a subsidiary of GoDigital Media Group, a larger conglomerate that includes other businesses like Eastern Mountain Sports and YogaWorks. The closure of Bob’s Stores marks the end of an era for the retailer, as it prepares to close all its locations and sell off its remaining inventory to the public at discounted prices.