An unexpected clothing store now closes all locations after filing for bankruptcy, leaving only days until its final moments in business.
Bob’s Stores initially announced it would close a select number of stores before revealing all locations would shut.
Unfortunately, the retailer could not secure the finances to continue operations as usual.
In the final days, stores in Connecticut, Massachusetts, New Hampshire, New Jersey, New York, and Rhode Island are holding “going out of business” sales.
Shoppers can find items for as much as 70% on all items, including footwear and team wear.
Bob’s sells brands like Nike, Adidas, and Carhartt, and apparel from NFL, NBA, and MLB teams.
The company announced that the final day of business is July 14.
“We regret that our financial position necessitated the liquidation of Bob’s Stores,” said Dave Barton, president 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.”
Despite the deals offered by the liquidation sale, customers were still heartbroken to hear about the closings.
“Amazon wins again,” wrote shopper Kevin on X.
“As a Southington resident, it’s disappointing. There’s no other place in town to buy sneakers,” wrote a shopper who often visited a location in Connecticut.
Another resident said the closures came as a surprise.
“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,” they wrote.
However, retail experts say they saw it coming.
“Bob’s and EMS know how to run good, profitable, and productive stores that offer great merchandise with great value,” Burt Flickinger III, managing director of retail and consumer goods consulting firm Strategic Resource Group, told CT Insider.
“But they’re facing an accelerating retail ice age.”
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Also Read: An Unexpected Retailer Is Now Closing All Stores in Illinois
Other Economy News Today
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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