The parent company of Connecticut retailer Bob's Stores has notified the state it plans to lay off 145 employees from its offices and warehouse in Meriden at the end of the month.
In a letter to the Connecticut Department of Labor and to the mayor of Meriden, SDI Stores, LLC said the layoffs will begin May 31 and will continue for two weeks.
The company says its bank notified them within the last week that it will no longer fund the company's employee health insurance premiums, 401(k) administration, payroll, and other critical financial obligations "which, if not paid, will likely prevent us from being able to operate the business going forward," the letter said.
The company says it is looking for alternative funding, but can't guarantee they will find it.
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Nine employees of Eastern Mountain Sports, also operated by the company in Meriden, are also being laid off.
Meriden Mayor Kevin Scarpati said he has been in contact with the company's president and hopes to offer help in finding the company alternate funding to keep their business open. He said the city will also ensure assistance is available for the affected employees.
"Bob’s Stores and Eastern Mountain Sports has been a part of the Meriden community for decades and we value their partnership and the support of their employees. We greatly appreciate their efforts in being a strong corporate citizen over the years and I am hopeful we can continue a partnership beyond the tentative layoff date of May 31, 2024," Scarpati said in a statement.
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Bob's Stores began in 1954 in Middletown and has grown to 27 locations in Connecticut, Massachusetts, New York, and New Jersey, according to its website.
