Yahoo Finance Bob's Discount Furniture Addresses Confusion Over Store Closures
Bob’s is going out of business, but not the one you may think.
On July 1, Bob’s Stores, a discount clothing retailer announced it would be shuttering its locations after filing a Chapter 11 bankruptcy restructuring petition in mid June. “Bob's Stores was unable to secure the finances needed to maintain operations,” the company stated in a press release. “Bob's stores began Going Out of Business sales in stores on Friday June 28, with discounts of 30-70% off.”
In a subsequent response, frequent shoppers of another Bob's store — specifically, Bob’s Discount Furniture — began to share concerns that the home furnishings retailer, commonly referred to as just "Bob's," was the one going out of business. As the company started to pick up on the miscommunication, it issued a brief clarification on X, formerly known as Twitter.
“Bob’s Discount Furniture is not affiliated with Bob’s Stores, the clothing/footwear retailer which recently announced its closing,” it stated.
𝐁𝐨𝐛'𝐬 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐅𝐮𝐫𝐧𝐢𝐭𝐮𝐫𝐞 𝐢𝐬 𝐧𝐨𝐭 𝐚𝐟𝐟𝐢𝐥𝐢𝐚𝐭𝐞𝐝 𝐰𝐢𝐭𝐡 𝐁𝐨𝐛'𝐬 𝐒𝐭𝐨𝐫𝐞𝐬, the clothing/footwear retailer which recently announced its closing. Bob's Discount Furniture is open, thriving and growing across the country!
— Bob’s Discount Furniture (@MyBobs) July 9, 2024
In a statement to Good Housekeeping, the company further iterated that shoppers can continue to pick up discounted furniture at Bob’s. “There is no relationship whatsoever between Bob’s Stores and leading furniture retailer Bob’s Discount Furniture,” the company said. “Bob’s Discount Furniture continues to thrive with 178 stores in 24 states and an additional 12 stores slated to open by the end of 2024.”
Bob's Stores, the clothing chain, joins a flood of other retailers that have filed for bankruptcy and have started closing thousands of locations. Just last month, Walgreens CEO Tim Wentworth said that the company is closing unprofitable locations, resulting in nearly 2,150 stores closing by 2027. Prior to that, 99 Cents Only Stores announced a wind-down of operations, citing challenges presented to the retail landscape as a result of COVID-19 and consumer behaviors.
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