Jul. 2—WATERFORD — A going-out-of-business sale offering steep discounts on footwear, apparel and outdoor gear is underway at the combined Bob's Stores and Eastern Mountain Sports outlets in the Cross Road Centre shopping center at 167 Parkway North, off Exit 81 of Interstate 95.
The stores are seeking to liquidate all inventory and are expected to close by fall.
Bob's Stores, a subsidiary of Los Angeles-based GoDigital Media Group, announced Monday it will close all of its Bob's outlets in the Northeast, including 10 in Connecticut. The company filed a Chapter 11 restructuring petition last month in U.S. Bankruptcy Court in Delaware.
"Despite making swift and aggressive changes to the company's structure and operations, Bob's Stores was unable to secure the finances needed to maintain operations," the company said in a news release. "Bob's Stores began Going Out of Business sales in stores on Friday June 28, with discounts of 30-70% off."
On Tuesday, the manager of the local Bob's Stores and Eastern Mountain Sports outlets declined to comment about the impending closings. No closure date is set. Signs in the stores announced they would honor gift cards and merchandise credits through July 14. All sales are final. Exchanges will be accepted in accordance with the company's existing policies.
The other Bob's Stores in Connecticut are in Ansonia, Hamden, Manchester, Middletown, Milford, Newington, Simsbury, Southington and Waterbury.
Hilco Merchant Resources, of Northbrook, Ill., is managing the liquidation of merchandise at all Bob's stores in Connecticut, Massachusetts, New Hampshire, New Jersey, New York and Rhode Island. In addition to the stores' merchandise, select fixtures, furniture and equipment are for sale.
"We regret that our financial position necessitated the liquidation of Bob's Stores," Dave Barton, the company's president, said. "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."
Founded as Bob's Surplus in Middletown in 1954, Bob's Stores has been acquired by new owners multiple times and has been involved in several reorganizations.
In May, the company notified the state Department of Labor it intended to lay off employees at its offices and warehouse in Meriden. This week, it said it will close all of its Bob's Stores outlets and some Eastern Mountain Sports locations.