Bob’s Stores, a subsidiary of GoDigital Media Group, has revealed plans to close all its stores and liquidate all its inventory in the US.
The move is in line with the company’s Chapter 11 restructuring petition filed on 18 June 2024.
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The liquidation sale, managed by Hilco Merchant Resources and Gordon Brothers, began on 28 June with discounts ranging from 30% to 70%.
The event will affect all Bob’s Stores across Connecticut, Massachusetts, New Hampshire, New Jersey, New York and Rhode Island.
Customers can expect significant reductions on workwear, footwear, team wear and everyday clothing.
The company will also offer select store fixtures, furniture and equipment.
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By GlobalDataThe announcement for liquidation comes as Bob’s Stores is unable to secure necessary finances to continue operations, despite aggressive restructuring efforts.
As stated in its court filing in June 2024, the retailer operated 50 stores and employed 771 people.
Bob’s Stores president Dave Barton said: “We regret that our financial position necessitated the liquidation of Bob’s Stores. 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.
“We remain grateful to our vendors, suppliers, customers and employees for all of their support over the years.”
The company has announced that gift cards and merchandise credits will be honoured until the close of business on 14 July 2024.
The retailer will enable customers to make exchanges in line with its policies until the same date, but no exchanges will be accepted for purchases made after this.
