Once-popular retail chain closing all locations after 70 years
SUMMARY
Bob's Stores announced the closure of all its nearly two dozen retail locations, initiating "Going Out of Business" sales with 30%-70% discounts. The retailer, which filed for Chapter 11 bankruptcy on June 18, is liquidating its inventory at 21 stores in six Northeastern states: Connecticut (10), Massachusetts (6), New Hampshire (1), New Jersey (1), New York (2), and Rhode Island (1). The closures stem from the company's inability to secure necessary finances despite restructuring efforts. The liquidation sales will run until July 14, the last day for exchanges, gift cards, and merchandise credits. The bankruptcy proceedings are taking place in the U.S. Bankruptcy Court in Delaware.
