Bob's Stores closing: Iconic chain declares bankruptcy after 70 years
A clothing giant in the United States has declared bankruptcy. After 70 years of operation, Bob's Stores is closing all its stores, reports CNN. Huge sales have begun in the popular chain's stores.
"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," CNN quotes Dave Barton, CEO of Bob's Stores.
Popular clothing chain declares bankruptcy
CNN reports that Bob's has half of its stores in Connecticut and the rest in Massachusetts, New Hampshire, New Jersey, New York, and Rhode Island. All locations offer hefty discounts on everything the company sells, from shoes to clothes. Discounts range from 30% to 70%.
Bob's Stores will be closed on July 14 of this year.
As reported by "Super Express," the clothing chain has been struggling with financial problems for a long time. In May, 150 employees were laid off.
