Bob's Stores closing all locations after 70 years in latest US retail casualty
What financial issues did Bob's Stores face?
Bob's Stores faced financial issues such as being unable to secure necessary finances to continue operations, defaulting on loans owed to PNC Bank, and accumulating unpaid rent, operational debt, and wage obligations. These challenges led to the company filing for Chapter 11 bankruptcy protection and ultimately deciding to liquidate and close all store locations.
How many Bob's Stores locations are there?
Bob's Stores has 21 locations throughout Connecticut, Massachusetts, New Hampshire, New Jersey, New York, and Rhode Island2. The company is closing all of its stores as part of a Chapter 11 restructuring petition filed on June 18.
What discounts are offered during the liquidation?
During the liquidation sale, Bob's Stores will offer discounts between 30 and 70 percent on their inventory at all 21 locations throughout Connecticut, Massachusetts, New Hampshire, New Jersey, New York, and Rhode Island. The sale will continue until the stores close on July 14.