Bob’s Stores closing all locations, including Westborough and Fitchburg
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Bob's Stores is closing all of its locations, including this one in Westborough.
Bob's Stores, the retailer that was founded in Middletown, Connecticut as Bob’s Surplus, announced Monday it will liquidate its inventory and close all of its locations by July 14.
The closings, which includes locations in Westborough and Fitchburg, are part of a Chapter 11 restructuring petition filed in June, the company said.
Bob’s Stores is owned by SDI Stores LLC, a subsidiary of Northbrook, Illinois-based GoDigital Media Group. SDI Stores, which also operates Eastern Mountain Sports, filed a Chapter 11 bankruptcy petition in June, the fourth time in its history the Bob Store’s chain had sought bankruptcy court protection.
In its Chapter 11 petition filed June 18, the company states that it owes between 200 and 999 creditors between $50 million and $100 million, while estimating its assets at between $10 million and $50 million.
The petition does not say how many employees remain with the company.
On June 28, SDI filed a notice under the federal Worker Adjustment and Retraining Notification (WARN) Act with the state Department of Labor. A WARN Act notice is required when a company conducts a mass layoff or closing.
The notice, signed by SDI President David Barton, states that the company had notified the state on May 21 of a “reduction in force” at its offices and warehouse in Meriden, which resulted in 150 layoffs, and that the company had filed for bankruptcy protection.
The notice also states that, since it did not have a court-approved budget to continue operating, it will “conduct further layoffs beginning on July 5.” It adds that “this layoff will be permanent.”
The company said in a news release Tuesday that despite “making swift and aggressive changes” to its structure and operations, it was unable to secure the finances needed to maintain operations.
All of its stores began “going out of business sales” on June 28, offering discounts of 30% to 70% off.
The company said Hilco Merchant Resources, in a joint venture with Gordon Brothers, will manage the liquidation sales that include all Bob’s Stores in Connecticut, Massachusetts, New Hampshire, New Jersey, New York and Rhode Island.
Bob's has ten locations in Connecticut, six locations in Massachusetts, two in New York, and one each in New Hampshire, New Jersey and Rhode Island.
Describing the stores as offering “unprecedented discounts,” the company said sales will apply to “workwear, footwear, teamwear and everyday clothing.”
Store fixtures, furniture and equipment will also be available for sale in select locations, it said.
"We regret that our financial position necessitated the liquidation of Bob's Stores,” Barton said Tuesday. “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.”
Gift cards and merchandise credits will be honored through the close of business local time on July 14, the company said.
All sales are final during the sale, and no returns will be accepted, it said.
Exchanges will be accepted in accordance with the company's existing policies through the close of business on July 14. No exchanges on purchases made after July 14 will be accepted.
Bob’s Stores was founded as Bob’s Surplus on Main Street in Middletown in 1954 by Connecticut native Bob Lapidus.
WBJ Staff Writer Eric Casey contributed to this story.
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