Hilco Merchant Resources and Gordon Brothers have announced their joint venture to oversee the liquidation of Bob’s Stores, a 70-year-old discount chain in the Northeast. The subsidiary of GoDigital Media Group has filed for Chapter 11 bankruptcy and will be closing all 21 locations across six states. All inventory will be sold during Going Out of Business sales that began last week.
According to a company release, despite implementing swift and aggressive changes to its structure and operations, Bob’s Stores was unable to secure necessary finances for continued operations. Dave Barton, president of Bob’s Stores expressed regret at the need for liquidation but remains grateful for support from vendors, suppliers, customers and employees over the years.
Founded in Middletown, CT as Bob’s Surplus in 1954 ,the chain operated stores throughout Connecticut,Masachusetts ,New Hampshire ,New Jersey , New York,and Rhode Island.Photo credit: John Phelan/Wikipedia.The announcement was made by Connect CRE .
