In 2024, Bob’s Stores, a discount store located in northeast America, will permanently close all 21 of its locations after filing for Chapter 11 bankruptcy protection. President Dave Barton expressed regret over the financial position that led to the liquidation of the stores, which have been a staple in local communities for nearly seven decades.
The stores are located in Connecticut, Massachusetts, New Hampshire, New Jersey, New York, and Rhode Island. Customers are urged to take advantage of discounts ranging from 30% to 70% off on all items before the merchandise sells out. Gift cards will still be valid until July 14th.
Bob’s Stores was established in 1954 in Connecticut under the name “Bob’s Surplus”. It was later acquired by TJX Companies in 2003 and sold to private equity firms before being acquired by GoDigital Media Group in 2022. The closure of Bob’s Stores is part of a trend of retail bankruptcies that has been caused by reduced consumer spending and rising inflation.