Another casualty of the Biden Administration and their inflationary policies.
Bob’s Stores, a well-known discount retailer in the northeastern United States, is closing its doors after almost seven decades of operation. The company, which recently filed for Chapter 11 bankruptcy, announced that it would be permanently shutting down all 21 of its stores and liquidating its inventory in the upcoming weeks. This decision marks the end of an era for a retailer that has been a fixture in many communities and a go-to source for affordable clothing and footwear.
🇺🇸 All Bob’s Stores locations to close https://t.co/blLQ6sAmKv
— Neil Saunders (@NeilRetail) July 3, 2024
The stores, which are primarily located in Connecticut with others spread across Massachusetts, New Hampshire, New Jersey, New York, and Rhode Island, will offer significant discounts ranging from 30% to 70% off all merchandise. The company has urged customers to take advantage of these sales early to get the best selection of products before they sell out. Additionally, Bob’s Stores has announced that gift cards can still be redeemed until July 14.
Bob’s Stores was founded in 1954 in Connecticut, originally under the name “Bob’s Surplus.” Over the years, the store gained popularity for its value deals on name-brand clothing and shoes. In 2003, it was acquired by TJX, the parent company of Marshalls and T.J.Maxx, and was later sold to private equity firms in 2008. Most recently, in 2022, Bob’s Stores was sold to GoDigital Media Group.
Bob’s Stores closing all retail locationshttps://t.co/aozhvuWanA
@JoeBiden @POTUS @GavinNewsom This is what a fine job you are doing. Stop all the BS and be honest with yourself and the American people .Hunter and Jill need to stop this nonsense hes sick— Jessie (@Jessie132561122) July 3, 2024
The closure of Bob’s Stores is part of a broader trend of retail bankruptcies in 2024, which experts attribute to a decrease in consumer spending and the pressures of rising inflation. This trend can only get worse for as long as Biden is in office, making all the wrong moves at all times, while throwing American money around the world.
Key Points:
i. Bob’s Stores, a discount retail chain in the Northeastern U.S., is closing down after nearly 70 years due to bankruptcy.
ii. The company will permanently close all 21 locations, following a Chapter 11 bankruptcy filing, and will liquidate its inventory with discounts ranging from 30% to 70%.
iii. The closures affect stores in Connecticut, Massachusetts, New Hampshire, New Jersey, New York, and Rhode Island, with significant discounts offered to clear out inventory.
iv. Bob’s Stores has a storied history, starting in 1954 as Bob’s Surplus in Connecticut, and undergoing several ownership changes including acquisitions by TJX and sales to private equity.
v. The shutdown is part of a wider trend of retail bankruptcies in 2024, driven by reduced consumer spending and increasing inflation pressures.
Susan Guglielmo – Reprinted with permission of Whatfinger News
