Bob's stores declares bankruptcy, launching huge liquidation sales
A clothing giant in the United States declares bankruptcy. After 70 years of operation, Bob's Stores is closing all its stores, reports CNN. Major sales have started in the popular chain's stores.
"We regret that our financial situation has forced the liquidation of Bob's Stores. Bob's has been a pillar of our local communities for nearly 70 years, and we know our customers remember us as being present at important moments in their lives," CNN quotes a statement by Dave Barton, president 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 are offering large discounts on everything the company sells, from shoes to clothes. Discounts range from 30% to 70%.
Bob's Stores will be closed by 14 July this year.
According to "Super Express," the clothing chain had been struggling with financial problems for a long time. In May, 150 employees were laid off.
