Bidenomics: All Stores CLOSED!

Joe Biden

(TheProudRepublic.com) – As a consequence of the failed Bidenomics policies, beloved retail fixture Bob’s Stores will permanently close all its locations in the latest blow to the U.S. retail sector.

After dressing families across the Northeast for 70 years, President Dave Barton announced that the iconic retailer could not secure the necessary finances to stay in business.

“Bob’s Stores will liquidate its inventory at its 21 locations across Connecticut, Massachusetts, New Hampshire, New Jersey, New York, and Rhode Island, offering discounts between 30 and 70 percent before closing on July 14,” Barton stated.

He continued, “[W]e 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.”

Specializing in “footwear, workwear, teamwear, and everyday clothing” for families, Bob’s Stores has 13 locations in the New York tri-state area, including a recently opened store in Centereach, Long Island.

“We are thankful to our vendors, suppliers, customers, and employees for their support over the years,” Barton acknowledged.

On June 20, Barton filed for Chapter 11 bankruptcy protection for Bob’s Stores and its sister company, Eastern Mountain Sports, which employs 290 full-time and 481 part-time workers.

According to court documents, both companies share a headquarters and distribution center in Meriden, Connecticut.

In May, parent company GoDigital Media Group laid off 150 workers at the Meriden facility as part of an “aggressive” restructuring strategy to operate primarily from larger stores and remotely.

Moreover, Barton disclosed that Bob’s Stores and Eastern Mountain Sports collectively generated $131.85 million in net revenue in 2023.

However, PNC Bank claimed it is owed nearly $30 million plus an additional $27 million in unpaid rent and operational debt. The companies also face $935,000 in unpaid wage obligations.

According to CoreSight Research, retail chains are closing nearly 3,200 stores this year, marking a 24 percent increase from 2023.

In May, supermarket Stop and Shop closed several underperforming stores across the Northeast, while Red Lobster shut down at least 50 locations and filed for Chapter 11 bankruptcy.

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