After 70 Years, Bob's Stores to Shutter All Locations in Latest US Retail Upheaval

Money | July 3, 2024, 3:54 a.m.

Bob’s Stores, a beloved retail giant that has clothed families in the northeast for 70 years, will permanently close all 21 US locations due to financial difficulties. President Dave Barton cited the inability to secure finances as the reason for the closure, with liquidation sales offering discounts of 30 to 70 percent leading up to the final closure date of July 14. Bob’s Stores, specializing in footwear, workwear, and everyday clothing, has been a staple in local communities for decades. The company filed for Chapter 11 bankruptcy protection, with PNC Bank claiming millions in unpaid debts. The store, founded in Connecticut in 1954, has faced bankruptcy filings in the past amid a challenging retail landscape. With the closure of Bob’s Stores and other retail chains this year, the northeast retail industry continues to see closures and restructuring efforts in response to changing consumer trends.