Bob's Stores is closing all locations - see the full list of store closures
Why is Bob's Stores closing all its locations?
Bob's Stores is closing all its locations due to a liquidity crisis, as the company was unable to secure the finances needed to maintain operations. This led to the decision to liquidate all inventory and close all store locations.
What led to Bob's Stores' liquidity crisis?
Bob's Stores faced a liquidity crisis due to financial struggles, leading to the company's inability to secure necessary funding despite efforts to restructure operations4. This was exacerbated by PNC Bank declaring the retailer in default on its loans in March 2024, with Bob's EMS owing PNC $29.4 million and nearly $27 million to landlords and suppliers.
When did Bob's Stores file for Chapter 11 bankruptcy?
Bob's Stores filed for Chapter 11 bankruptcy on June 18, 2024. The company was unable to secure the necessary funding to continue operations despite efforts to restructure1. As a result, all Bob's Stores locations are closing, and a liquidation sale is ongoing with discounts ranging from 30% to 70%.