Bob’s Stores, a discount clothing and shoe retailer with over 70 years of presence in local communities, is closing all of its stores due to the owner’s recent filing for Chapter 11 bankruptcy. The owner cited a “liquidity crisis” as the reason for the closure. Dave Barton, president of Bob’s Stores, expressed his regret over the financial situation that led to the liquidation of the stores.
The list of Bob’s Stores closing includes locations in Connecticut, Massachusetts, New York, New Hampshire, New Jersey, and Rhode Island. The stores are currently undergoing liquidation sales with discounts ranging from 30% to 70% off regular retail prices. Customers can use gift cards and make exchanges until July 14. Store fixtures, furniture, and equipment will also be available for sale as part of the liquidation process.
Bob Lapidus opened the first “Bob’s Surplus” store in Middletown, Connecticut in 1954. The brand was later acquired by TJX, the owner of Marshalls and TJ Maxx, in 2003 before being sold to private equity firms in 2008. The retail industry has seen a significant increase in store closures in recent years due to bankruptcies and the impact of inflation on consumer spending.
