PHOTO: DEPOSIT PHOTOS
PHOTO: DEPOSIT PHOTOS
Kimberly Redmond//July 2, 2024//
Bob’s Stores, a discount apparel retailer, is closing all locations, including its one New Jersey store on Route 9 in Freehold.
After filing for Chapter 11 bankruptcy in June, the Connecticut-based chain’s parent company, GoDigital Media Group, hoped to emerge a stronger, more stable business but was unable to secure the funding necessary to continue operations.
Bob’s Stores expects to permanently close its 22 locations across the U.S. next month. The retailer is now hosting going-out-of-business sales.
Shoppers will receive discounts of between 30% to 70% off a variety of workwear, footwear, team wear and everyday clothing. Select store fixtures, furniture and equipment will also be available for purchase.
Bob’s Stores President Dave Barton stated, “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,” Barton added.
Founded in 1954, the brand was acquired by Marshalls and TJ Maxx owner TJX in 2003 before being sold to private equity firms five years later.
GoDigital Media Group has owned Bob’s Stores, as well as outdoor gear purveyor Eastern Mountain Sports, since 2022. Altogether, the chains run about 50 stores and employ 770 workers.
PNC Bank, the company’s primary lender, reportedly claims to be due nearly $30 million. Meanwhile, GoDigital also owes about $27 million in unpaid rent and other operating debt.
The fate of Eastern Mountain Sports stores remains unclear. Within New Jersey, the brand only has one location – Bridgewater.