TJX Cos., the owner of T.J. Maxx and
Marshalls clothing stores, agreed to acquire most of the assets of
Connecticut-based retail chain Bob’s Stores, in a transaction
valued at about $100 million.
Bob’s Stores and its units, which sell branded apparel and
footwear, filed for bankruptcy protection. TJX expects to assume
the leases of most of the 36 Bob’s Stores that operate in the U.S.
Northeast. Framingham, Mass.-based TJX expects to complete
the transaction this year.
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Acquiring Bob’s Stores is part of TJX’s plan to broaden its
offerings in casual clothing, activewear, workwear and footwear,
TJX President and Chief Executive Officer Edmond English said in a
statement issued by Business Wire.
TJX spokeswoman Sherry Lang didn’t immediately return a voice
mail seeking comment.
TJX sells apparel and home products from its 742 T.J. Maxx,
658 Marshalls, 168 HomeGoods and 89 A.J. Wright stores in the United States.
It also has 158 Winners and 23 HomeSense stores in Canada, and 137
T.K. Maxx stores in Europe.
Bloomberg News
