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Discount Chain Bob’s Stores Enters Chapter 11 Liquidation
A joint venture of Hilco Merchant Resources and Gordon Brothers will manage the liquidation of Bob’s Stores. The 70-year-old Northeast discount chain, a subsidiary of GoDigital Media Group, will close all 21 Bob’s locations across six states and liquidate all inventory, as part of a Chapter 11 restructuring petition filed in June.
Despite making “swift and aggressive changes” to the company’s structure and operations, Bob’s Stores was unable to secure the finances needed to maintain operations, the company said in a release. Going Out of Business sales began last week.
Dave Barton, president of Bob’s Stores 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.”
Founded in 1954 in Middletown, CT as Bob’s Surplus, Bob’s operated stores in Connecticut, Massachusetts, New Hampshire, New Jersey, New York and Rhode Island.
Photo credit: John Phelan/Wikipedia.
- ◦Sale/Acquisition
