TJX Cos. Completes Acquisition of Bob's Stores

FRAMINGHAM, MA-The TJX Cos. Inc., a locally based discount retail chain, completes its acquisition of the Bob’s Stores retail chain that recently filed for Chapter 11 bankruptcy protection. TJX has purchased substantially all of the assets of the Connecticut-based Bob’s Stores and its subsidiaries and assumed leases for 31 of Bob’s Stores’ locations, its Meriden, CT, office and warehouse lease, along with specified operating contracts, and customer, vendor and employee obligations. The estimated purchase price of $59 million is subject to final adjustments.

TJX competed against Pittsburgh-based retailer Dick’s Sporting Goods Inc. for Bob’s Stores in an auction held under the jurisdiction of the US Bankruptcy Court in Bangor, ME.