After nearly seven decades of serving communities with affordable apparel and footwear, Bob’s Stores has announced its decision to file for bankruptcy and shutter all of its locations. This move marks the end of an era for the beloved discount clothing chain, which has been a staple in the shopping landscape in Northeastern America since its inception. As part of a broader trend of retail bankruptcies in 2024, Bob’s Stores joins a growing list of businesses grappling with the changing dynamics of consumer behavior and the competitive pressures of the digital age.
Behind the Bankruptcy
On June 18, 2024, Bob’s Stores and Eastern Mountain Sports, both owned by GoDigital Media Group, filed for Chapter 11 bankruptcy protection, citing a “liquidity crisis”.
Prior to the bankruptcy filing, Bob’s Stores said it made “swift and aggressive changes to the company’s structure and operations,” but it was unable to secure the funds it needed to carry on. Because of this, the company’s bank declared a default under their loan agreement, took control of the retailer’s cash and receivables, and would only fund certain expenses. Fast forward to June 12, the bank stopped funding their operations after discussions broke down.
“We regret that our financial position necessitated the liquidation of Bob’s Stores,” Bob’s Stores president Dave Barton said in a statement. “Bob’s has been a stalwart of our local communities for nearly 70 years, and we know our customers remember us as having been there for major moments in their lives.”
Barton also expressed gratitude to the retail chain‘s “vendors, suppliers, customers, and employees for all of their support over the years.”
Closing Bob’s Stores Locations
There are Bob’s Stores outlets in Connecticut, Massachusetts, New York, New Hampshire, New Jersey, and Rhode Island. Here’s the complete list of Bob’s Stores locations that are closing.
Connecticut
- Ansonia: 409 Main St
- Hamden: 2300 Dixwell Ave
- Manchester: 179 Pavilions Dr
- Middletown: 416 East Main St
- Milford: 195 Cherry St
- Newington: 172 Kitts Lane
- Simsbury: 504 Bushy Hill Rd
- Southington: 835 Queen St
- Waterbury: 910 Wolcott St
- Waterford: 167 Parkway N
Massachusetts
- Attleboro: 287 Washington St
- Fitchburg: 146 Whalon St
- Holyoke: 50 Holyoke St
- Middleton: 230 Main St
- Randolph: 59 Mazzeo Dr
- Westboro: 168 Milk St
New York
- Centereach: 191 Centereach Mall
- West Islip: 135-187 Sunrise Hwy
- New Hampshire
- Salem: 92 Cluff Crossing
New Jersey
- Freehold: 3710 US-9
Rhode Island
- Cranston: 1400 Oaklawn Ave
Bob’s Stores Liquidation Sales
Managed by Hilco Merchant Resources in a joint venture with Gordon Brothers, going-out-of-business sales at Bob’s Stores started last week, with discounts of between 30% and 70% off regular retail prices. On sale are selections of workwear, footwear, team wear, and casual clothing for men, women, and children. Store fixtures, furniture, and equipment will also be available for purchase during the liquidation sales. Bob’s Stores loyal customers can use any gift cards or merchandise credits they have through July 14.
History of Bob’s Stores
Bob’s Stores was founded in 1954 as Bob’s Surplus in Middletown, Connecticut by Robert “Bob” Lapidus. The company gradually expanded, opening new locations in Enfield, Connecticut in 1975 and Hamden, Connecticut in 1981. The company changed its name to Bob’s Stores in 1985 and shifted its marketing strategy to emphasize quality and add casual activewear to its product offerings.
Five years later, in 1990, Bob’s Stores was acquired by the Melville Corporation (now CVS Corporation). Under Melville, the chain grew to 34 stores across the Northeast by 1996. However, a year later, Melville sold Bob’s Stores to the chain’s management and Citicorp Venture Capital.
Bob’s Stores faced financial difficulties and filed for bankruptcy in 2003. Seeing it as complementary to their other discount retail brands, TJX Companies, the parent company of Marshalls and T.J.Maxx, acquired Bob’s Stores but later sold to private equity firms in 2008.
In 2022, Bob’s Stores was acquired by GoDigital Media Group. Unfortunately, as detailed above, the chain succumbed to financial pressures and declared bankruptcy again earlier this year.