JULY 3, 2024 — CLOSING ALL STORES
Bob's Stores ("Bob's"), a subsidiary of GoDigital Media Group, announced that the company will close all of it's Bob's locations and liquidate all inventory, as part of the Chapter 11 restructuring petition filed on June 18, 2024. 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. Bob's stores began Going Out of Business sales in stores on Friday June 28, with discounts of 30-70% off.
Hilco Merchant Resources in a joint venture with Gordon Brothers will manage the liquidation event, that will include all Bob's stores throughout Connecticut, Massachusetts, New Hampshire, New Jersey, New York and Rhode Island, offering unprecedented discounts on a wide range of workwear, footwear, team wear and everyday clothing for the whole family. Shoppers will find significantly reduced prices on leading national brands across the stores. Select store fixtures, furniture, and equipment will also be available for sale.
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."
This event marks a final opportunity for loyal customers to take advantage of massive savings on everything in store. Top-selling items from the most popular brands will be discounted and will sell out very quickly. Customers are encouraged to visit their nearest Bob's location early to take full advantage of the best selection of discounted merchandise before it sells out.
Gift cards and merchandise credits will be honored through close of business on July 14, 2024, local time. All sales are final during this store closing event. No returns will be accepted. Exchanges will be accepted in accordance with the Company's existing policies through the close of business on July 14, 2024, local time. No exchanges for purchases made after July 14th, 2024, will be accepted.
MAY 30, 2024 — Original post…
Meriden, Connecticut-based Bob's Stores, a retail chain featuring sportswear, work, and casualwear, has expressed doubt as to the viability of continuing in business and announced a major reduction in force.
The personnel realignment, which will commence on May 31, 2024, will impact 145 employees from its offices and warehouse in Meriden.
According to a company statement...
"We regret to inform you that SDI STORES, LLC d/b/a Bob’s Stores, will be conducting a reduction in force at its offices and warehouse and laying off employees at that location, as well as remote employees who report to that location. Unless the Company is able to secure alternate funding, the layoff will commence on May 31, 2024.
We are taking this action because of business circumstances that were not reasonably foreseeable. We would like to have given you more notice of this action but were unable to do so because the bank has informed us within the last week that it will refuse to fund the employee health insurance premiums, 401K administration, payroll, as well as other critical financial obligations which, if not paid, will likely prevent us from being able to operate the business going forward. As of this date, they remain firm on their position despite our continuing best efforts to convince them otherwise. Unfortunately, the circumstances leading to this layoff were not reasonably foreseeable at an earlier date. We are currently seeking alternative funding sources, but we cannot guarantee a favorable outcome."
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?
