Bob's Stores — 70 years, four bankruptcies, then all 21 stores liquidated

Bob's Stores was founded in 1954 by Bob Lapidus in Middletown, Connecticut, as Bob's Surplus — a discount retailer selling clothing, footwear, workwear, teamwear and activewear to moderate-income families in the northeastern US. The chain grew steadily to nearly 50 stores and became a New England institution, known for its no-frills approach and loyal customer base. Over seven decades it survived four separate bankruptcies, each time finding a buyer or restructuring to keep the doors open.

The fourth bankruptcy was the final one. By 2024, Bob's Stores had shrunk to 21 locations across six states. The parent company, SDI Stores, had been acquired by GoDigital Media Group in 2022 for $70 million — a sharp decline from the $101 million Sports Direct had paid in 2017. In May 2024, the company's bank refused to provide funding for payroll and benefits, forcing 150 layoffs at the Meriden, Connecticut headquarters. On 18 June 2024, SDI Stores filed for Chapter 11 bankruptcy protection. Within two weeks, the decision was made to liquidate all Bob's Stores locations.

Liquidation sales began on 1 July 2024 and all stores closed by the end of September. The chain that had served New England families for 70 years was gone. The causes were multiple: Nike had stopped supplying the chain in 2021, cutting off a key footwear and apparel source; Kohl's had entered the market and taken customers; and decades of debt from leveraged acquisitions left no cushion for a downturn. The fourth bankruptcy was the one that stuck.