Kristoffer Tripplaar/Alamy Inventory Photograph
Bob’s Shops, which has places within the northeast US, is shutting down.
New York
The Gentleman Report
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Bob’s Shops, a cut price retailer situated in northeast The usa, is shutting down after seven a long time in industry.
The store lately filed for Bankruptcy 11 chapter coverage, and consequently, will quickly completely shut all 21 of its places. It’s going to liquidate its stock within the coming weeks.
“We feel sorry about that our monetary place necessitated the liquidation of Bob’s Shops,” Dave Barton, president of Bob’s Shops, mentioned in a press free up. “Bob’s has been a stalwart of our native communities for almost 70 years, and we all know our consumers take into account us as having been there for main moments of their lives.”
Bob’s has part of its retail outlets in Connecticut, with the rest in Massachusetts, New Hampshire, New Jersey, New York and Rhode Island. All places are providing steep reductions on the whole thing the corporate sells, starting from sneakers to clothes. Reductions span from 30% to 70% off, Bob’s mentioned.
“Shoppers are inspired to consult with their nearest Bob’s location early to take complete benefit of the most efficient collection of discounted products ahead of it sells out,” the corporate mentioned. Present playing cards can nonetheless be used till July 14.
Bob’s began in 1954 in Connecticut, when it used to be firstly known as “Bob’s Surplus.” It used to be got through Marshalls and T.J.Maxx’s dad or mum corporate TJX in 2003 and used to be later bought to non-public fairness corporations 5 years later. In 2022, Bob’s Shops used to be bought to GoDigital Media Staff.
Bob’s joins a rising choice of retail bankruptcies in 2024, spurred from a slowdown in client spending and emerging inflation.
