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.
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.
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.