News & Trending Shopping & Deals News

Bob’s Stores Are Officially Closing Their Doors for Good After 70 Years in Business

Bob’s Stores is the latest discount retailer that has struggled in recent months.

closing sign on NORWALK Bob's store
Updated Sept. 24, 2024
Fact checked

We receive compensation from the products and services mentioned in this story, but the opinions are the author's own. Compensation may impact where offers appear. We have not included all available products or offers. Learn more about how we make money and our editorial policies.

Bob’s Stores is shutting down after years and years in business. The retailer has been known for carrying everything from shoes to clothes at deep discounts for customers.

So, what happened? Here’s what you need to know about Bob’s Stores and why your local shop is closing, which means you'll soon have to find another discount store to save money and get ahead financially.

Earn cash back on everyday purchases with this rare account

Want to earn cash back on your everyday purchases without using a credit card? With the Discover®️ Cashback Debit Checking account (member FDIC), you can earn 1% cash back on up to $3,000 in debit card purchases each month!1

With no credit check to apply and no monthly fees to worry about, you can earn nearly passive income on purchases you’re making anyway — up to an extra $360 a year!

This rare checking account has other great perks too, like access to your paycheck up to 2 days early with Early Pay, no minimum deposit or monthly balance requirements, over 60K fee-free ATMs, and the ability to add cash to your account at Walmart stores nationwide.

Don’t leave money on the table — it only takes minutes to apply and it won’t impact your credit score.

Apply for a Discover Cashback Checking account today

What was Bob’s Stores?

BGStock72/Adobe pretty women shopping for new clothes

Bob’s Stores was a chain of retail stores that focused on discounted items, with products like activewear, business clothing, and shoes.

The store began in Connecticut 70 years ago, with locations throughout the Northeast, including stores in Connecticut, Massachusetts, New Hampshire, New Jersey, New York, and Rhode Island.

Why did Bob’s Stores close?

danielfela/Adobe Bankruptcy Chapter 11 form on table

In July, Bob’s Stores announced that it could no longer sustain its business despite changes to the company’s business operations and strategy.

It officially filed for Chapter 11 bankruptcy, with plans to liquidate all of its inventory and shutter its store locations. As of July 14, it’s also no longer accepting gift cards or refunds and exchanges.

Get a protection plan on all your appliances

Did you know if your air conditioner stops working, your homeowner’s insurance won’t cover it? Same with plumbing, electrical issues, appliances, and more.

Whether or not you’re a new homeowner, a home warranty from Choice Home Warranty could pick up the slack where insurance falls short and protect you against surprise expenses. If a covered system in your home breaks, you can call their hotline 24/7 to get it repaired.

For a limited time, you can get your first month free with a Single Payment home warranty plan.

Get a free quote

Where were Bob’s Stores located?

vin/Adobe Connecticut bay marina with boats

At the time of the bankruptcy filing, Bob’s Stores had 21 locations, with the news affecting all of those stores.

The company was based in the Northeast, with 10 locations in Connecticut, six locations in Massachusetts, two locations in New York, and one location each in New Hampshire, New Jersey, and Rhode Island.

How much can you save at Bob’s Stores?

Yulia/Adobe SALE Sign on shop's window display

The company announced that it would be discounting merchandise in order to help liquidate its assets as part of its Chapter 11 bankruptcy filing.

It’s unclear exactly when the last of the Bob’s Stores locations planned to close. Customers were told to expect discounts of 30% to 70% as part of the liquidation plans for the store.

Bob’s Stores isn’t the only one filing for bankruptcy

Tada Images/Adobe Huntington Beach 99 Cents Only Stores

Retail stores have been struggling for a variety of reasons lately, including rising costs.

Stores that belonged to the 99 Cents Only chain shut down as part of that retailer’s bankruptcy filing. There are plans to reopen some of these locations in the fall. Dollar Tree acquired these locations as part of the liquidation of 99 Cents Only’s assets.

Earlier this year, apparel retailer rue21 also filed for bankruptcy and closed all of its locations as part of a shutdown process.

Bottom line

Drazen/Adobe parents buying backpack for daughter

It can be difficult to find ways to save money shopping when discount retailers such as Bob’s Stores shut their doors, but there are other ways to shore up your finances.

Check your budget and adjust it from time to time to find new ways to save cash. Or, put money into an emergency fund or pay off debt and set yourself up for more financial success.

Lucrative, Flat-Rate Cash Rewards

5.0
info

Wells Fargo Active Cash® Card

Current Offer

$200 cash rewards bonus after spending $500 in purchases in the first 3 months

Annual Fee

$0

Rewards Rate

Earn unlimited 2% cash rewards on purchases

Benefits and Drawbacks
Card Details