A Popular Shoe Retailer Now Announces Unexpected Closures

A popular shoe retailer now announces unexpected closures, affecting a total of five ‘underperforming’ locations in the U.S.

Bob’s Stores, a branded footwear and apparel company has confirmed the shutter of some of its locations.

The company cited “challenging economic conditions” as the reason behind the store closures.

The apparel and footwear retailer is closing locations across four states and offering sales starting at 20% off, per The-Sun.

There are two stores closing in New Jersey in Freehold and Springfield.

Another store is closing in Southington, Connecticut, while two others close in Manchester, New Hampshire, and East Albany, New York.

The Connecticut location is actually facing eviction due to unpaid fees, according to a lawsuit filed by the landlord.

“We are actively working to relocate as many employees as possible from these impacted locations to nearby Bob’s and Eastern Mountain Sports stores,” a statement from the company reads.

Eastern Mountain Sports is a sister store that sells outdoor clothing and equipment.

“These closings have been a challenging yet necessary step to ensure the longevity of the company,” the statement continues.

“We are grateful for the hard work and dedication of all our employees and will continue to serve our loyal customers who have known and loved our brands for decades.”

A Bob’s shopper shared details about the closing sales in a Facebook post.

“Run don’t walk! Bob’s Stores liquidation, store closing sale starting now,” she urged shoppers.

She explained that shoppers can get an extra 10% off of clearance and an additional 20% off their entire purchase with “absolutely no exclusions.”

Some of the brands on sale include Nike, Adidas, and official gear for teams like the Yankees and the Giants.

The sales extend to online shoppers, where customers can get between 30% and 50% off of everything as part of a “total inventory blowout.”

Because the discount, all sales are final.

Despite the sales, customers were bummed to hear about the closure.

“Just got news Bob’s Stores Footwear & Apparel is closing this Sunday, very fast close caught us all by surprise, get in now to use your gift cards and rewards,” one shopper wrote.

“As a Southington resident it’s disappointing. There’s no other place in town to buy sneakers,” added another customer.

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Also Read: An Unexpected Retailer Is Now Closing All Stores in Illinois

Other Economy News Today

Market News Today - A Popular Shoe Retailer Now Announces Unexpected Closures.
Market News Today – A Popular Shoe Retailer Now Announces Unexpected Closures.

An unexpected restaurant now abruptly closes 7 locations in one state after revealing plans to shutter a total of 36.

TGI Fridays is closing a total of seven restaurants in one state as part of the company’s ongoing growth strategy.

This comes after the chain abruptly closed 36 locations across 12 states in at the beginning of the year, per The-Sun.

The restaurant chain will pull the plug on seven locations across the state of New Jersey in the coming weeks.

Today, Fridays will welcome in famished diners at its location in Brick for the final time.

“As we continue along our path of transformation to revitalize the Fridays brand and implement a long-term growth strategy, we see a bright future for TGI Fridays,” said Weldon Spangler, CEO of TGI Fridays earlier this week.

“We are at the helm of a pivotal moment that will allow us to explore boundless advancement, expansion, and innovation to keep delivering ‘That Fridays Feeling’ that our fans know and love.”

Before the closures, TGI Fridays had about 270 US locations, according to the company’s website.

“As part of the store closures, TGI Fridays is offering more than 1,000 transfer opportunities, which represents over 80% of total impacted employees,” the company previously said in a statement.

“Our top priority has always been delivering a superior experience for each and every TGI Fridays guest, and we’ve identified opportunities to optimize and streamline our operations to ensure we are best positioned to meet – and exceed – on that brand promise,” said Ray Risley, US president and chief operating officer, in the release.

Eight other locations were sold to former CEO Ray Blanchette, a longtime stakeholder who will acquire the previously corporate-owned restaurants.

The sale comes as major changes have been made to the brand’s leadership, including the news of Weldon Spangler being made CEO.

“As we continue along our path of transformation to revitalize the Fridays brand and implement a long-term growth strategy, we see a bright future for TGI Fridays,” said Spangler in a statement.

Also Read: Retirees Will Now Receive More Money For Social Security

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Market News Today - A Popular Shoe Retailer Now Announces Unexpected Closures.
Market News Today – A Popular Shoe Retailer Now Announces Unexpected Closures.

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