Bob’s Stores, the popular discount clothing and footwear retailer, has announced that it will be closing all of its locations and selling off all of its inventory due to a Chapter 11 restructuring petition filed on June 18. According to a Hilco Merchant Resources press release, the company will be holding an exit sale at all of its locations, offering discounts of 30-70% on a variety of merchandise including workwear, footwear, teamwear and casual wear. In addition, customers can purchase shop equipment, furniture and equipment at reduced prices.
Despite efforts to make changes to the company’s structure and operations, Bob’s Stores was unable to secure the necessary financing to continue operating. The liquidation process for all 21 Bob’s Stores locations in Connecticut, Massachusetts, New Hampshire, New Jersey, New York and Rhode Island will be managed by Hilco Merchant Resources and Gordon Brothers.
In a statement about the decision to liquidate, Dave Burton, president of Bob’s Stores expressed regret over the financial situation that led to this outcome. He acknowledged the store’s long history in the community and thanked customers for their support over the years. Based in Meriden, Connecticut, Bob’s Stores is known for its affordable prices and wide variety of merchandise.
As a subsidiary of GoDigital Media Group, Bob’s Stores is part of a larger multinational conglomerate that includes other companies such as Zinc Music, Eastern Mountain Sports and YogaWorks. Shoppers interested in taking advantage of the final sale can visit their local Bob’s Stores locations before they close for good on July 14th.