Based Underground is now a conservative news aggregator AND curated newsletter.
(Natural News)—Bob’s Stores, a retailer specializing in athletic and casual clothing across six states, is closing all its locations.
The chain currently has “Going Out Of Business” sales that offer customers massive discounts of between 30 to 70 percent off, and the company’s website is no longer operational.
Shoppers can find reduced prices on top national brands like Nike. Additionally, select store fixtures, furniture and equipment, including TVs and registers, are available for purchase.
The 40-year-old chain, which operated in Connecticut, Massachusetts, New Hampshire, New Jersey, New York and Rhode Island, will permanently close after the final day of business on July 14. (Related: Casual dining restaurant chain Hooters CLOSES several locations nationwide as “restaurant apocalypse” worsens)
Dave Barton, president of Bob’s Stores, announced the news, stating, “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.”
Gift cards and merchandise credits will be honored through the close of business on July 14. Since the website is non-functional, all clearance sales will occur in-store.
Closure announcement comes following bankruptcy filings
Less than two weeks ago, Bob’s Stores and its sister retailer, Eastern Mountain Sports (EMS), filed for Chapter 11 bankruptcy. The two retailers share a 240,000-square-foot headquarters and depot in Meriden, Connecticut.
In May, parent company GoDigital Media Group announced plans to lay off 150 staff members and close 10 stores across both brands. Despite these cost-cutting efforts, the company filed for Chapter 11 bankruptcy on June 21. While Bob’s Stores suffered a worse fate afterward, there are no further closures or staff reduction plans for EMS.
Brick-and-mortar retailers, particularly those selling sporting goods, have struggled in recent years. Families most affected by inflation have prioritized spending on food and essential clothing over non-essential items like sports goods.
Although sports retailers experienced a boost during the pandemic as people attempted to stay fit, they have since faced declining sales.
Don’t wait for a stock market crash, dedollarization, or CBDCs before securing your retirement with physical precious metals. Genesis Gold Group can help.
Barton, who also serves as CEO of EMS, informed the bankruptcy court that the company owes PNC Bank $30 million. Furthermore, Bob’s Stores owes an additional $27 million in unpaid rent and other debts.
Bob’s Stores and EMS have long histories in Connecticut. Bob’s Stores was named after founder Bob Lapidus, who opened the first store in 1954 in Middletown, Connecticut.
The brand was acquired by Marshalls and TJ Maxx owner TJX in 2003 before being sold off again in the aftermath of the Great Recession in 2008.
Burt Flickinger III, managing director of retail consulting firm Strategic Resource Group, commented: “Bob’s and EMS know how to run good, profitable, and productive stores that offer great merchandise with great value, but they’re facing an accelerating retail ice age.”
In 2024, many smaller chains, already reeling from the pandemic, have faced higher business costs, particularly labor. There have been nearly 2,600 store closures so far in 2024.
Recently, Walmart closed three more underperforming locations, and Rite Aid is shutting down 27 pharmacies.
Dollar stores have also been severely affected, with 99 Cents Only announcing in April that it would shutter all 371 of its locations across California, Texas, Arizona and Nevada. Additionally, 1,000 Family Dollar and Dollar Tree stores will be permanently shut down over the next few years.
Watch this clip from Breitbart News Daily breaking down the big lies coming out of the White House regarding the state of the American economy.
This video is from the NewsClips channel on Brighteon.com.
More related stories:
- Rite Aid to CLOSE 27 more stores due to ongoing bankruptcy proceedings.
- Biden’s economy is COLLAPSING as companies everywhere announce bankruptcies, closures fueled by runaway inflation.
- America is in the middle of a “restaurant apocalypse,” an ominous sign for the U.S. economy.
Sources include:
Afghan Who Plotted Election Day Terrorism Was a CIA Contractor
by Headline USA
It looks like the FBI may have entrapped a former CIA contractor in a plot to commit a terrorist attack on Election Day. The Justice Department announced this week the arrest of Nasir Ahmad Tawhedi, a 27-year-old Afghan man, alleging that he was planning an Election…
Last day for the special on long-term storage beef. Save 35% with promo code “JDR” at Prepper All-Naturals.
Genetically Modified Crops: A Growing Threat to Health and the Environment
by Olivia Cook
(Natural News)—Bioengineered foods and genetically modified organisms (GMOs) are commonly confused with each other, but they have different meanings. “Bioengineered” describes food and products that are enhanced with scientific techniques to add particular traits. In contrast, “GMOs” involve changing the genetic makeup of animals, plants or microbes in ways that…
United Nations Expands into “UN 2.0” to Turbocharge Sustainable Development Goals
by Liberty Sentinel
The United Nations (UN) has not gone rogue, argues journalist Alex Newman on American Family Radio’s show, At the Core , but they have always existed to achieve one goal: one-world government. This goal is not only un-American, but it is unbiblical. Newman and AFR host Walker Wildmon also dive…
Congressman Matt Gaetz Says Epstein Was Killed as Part of a ‘Foreign Operation’
by Modernity
Republican Congressman Matt Gaetz says sex trafficker Jeffrey Epstein was killed as part of a ‘foreign operation’, but refused to divulge which government was responsible for his death. Gaetz made the comments during an appearance on Benny Johnson’s show. In August 2019, Epstein was found unresponsive in his jail cell…
DOJ Takes Aim at Breaking Up Google
by Infowars
On Tuesday, the United States announced potential plans to request a court mandate directing Alphabet Inc to divest significant segments of its operations, including its Chrome browser and Android operating system. This move aims to dismantle what is described as an illegal monopoly held by Google in the online search…
Is Gavin Newsom Hoping that Kamala Harris Loses the Election?
by American Greatness
Two minutes of airtime during the Democrat National Convention in Chicago gave California Governor Gavin Newsom his latest opportunity to build his national stature. As part of the announcement of Kamala Harris’s clinching of the Democrat presidential nomination during a symbolic roll call of state delegates, Newsom portrayed Harris as…
Is It Time for a Nationwide Ban on Fluoridated Water?
by Natural News
Do community leaders reserve the right to mass medicate every person in their community using the water supply as a vector? What if that medicine was eventually exposed as a POISON decades later? What if that POISON was damaging the brains of children and stunting the cognitive development of the…
GOP Rep. Luna: We Need to End FEMA Migrant Spending and Boost Disaster Relief Funding
by Breitbart
On Wednesday’s broadcast of the Fox News Channel’s “Ingraham Angle,” Rep. Anna Paulina Luna (R-FL) stated that FEMA’s funding for migrants should be zeroed out at once and that while there is FEMA money for hurricane victims, we should also boost emergency relief funding “that will go directly to Americans…
Earth’s Continental Crust in America and China Is Breaking Apart
by End Times Headlines
Researchers, who have been studying the dramatic changes in the continental configurations of Earth over the past billions of years, have made a stunning observation: that the oldest continental crusts are disintegrating. According to experts, the Earth’s crust went through expansion and contraction and has transformed not only its positions…
“Line All Those Guys Up and Shoot Them”: Professor Says Men Who Don’t Support Female Candidates Should Be Massacred
by Daily Caller
(Jaryn Crouson, DCNF)—A professor at the University of Kansas (UK) told a class that men who would not vote for a female president should be lined up and shot, according to a video posted on X Wednesday. The university confirmed the professor is employed at UK and made the comment…