Is Hobo going out of business?
OAK CREEK -- The Home Owners Bargain Outlet, or HOBO, is going bankrupt. It closed its doors in late December. Now, it seems some of the company's debt could be passed on to former customers.Dec 19, 2018
Are any hobo stores still open near Chicago IL?
CHICAGO (CBS) -- Home improvement retailer HOBO is shutting down all of its Chicago area stores, CBS 2 has learned. Workers for Home Owners Bargain Outlet got the notice on Oct. 2--that the company will liquidate its assets next month and may be out of business by December.Oct 19, 2018
Why did hobo go out of business?
Last week the Waukegan-based company gave notice that the Home Owners Bargain Outlet, or HOBO, would be forced to shutter because of financial trouble if it couldn't find a buyer by the end of the year.Oct 24, 2018
Is there a hobo in Milwaukee?
HOBO has two outlets in Wisconsin: one in West Allis on 108th Street, the other on 27th Street on Milwaukee's south side. The company employs about 100 people in Wisconsin.Dec 14, 2018
How many Hobo stores are there in Chicago?
HOBO has been around since the early 1990s and operates five stores in the Chicago area plus two in Milwaukee. The retailer's closing could have a big impact on the communities its stores are in. Melody Winston is the director of real estate, operations and constructions at Forest Park Plaza, where one of the HOBO stores is located.
Why did Hobo shutter?
Last week the Waukegan-based company gave notice that the Home Owners Bargain Outlet, or HOBO, would be forced to shutter because of financial trouble if it couldn't find a buyer by the end of the year.
When did Hobo's Forest Park open?
The Forest Park store opened for business in September 2017 , putting nearly 100 people to work. Winston said she hopes to meet with HOBO’s owners to urge them to keep the location open through the holidays and possibly for the remainder of their lease.
Why was Forest Park Plaza closed?
Forest Park Plaza reps said employees were informed by leadership that the closures were due to “major financial challenges” predicted.
Is Hobo closing in Chicago?
Waukegan’s Home Owners Bargain Outlet, also known as HOBO, filed notice last week planning to close the doors of seven stores between Chicago and Milwaukee by Dec. 20.
Will home improvement stores close in Chicago?
A suburban-based home improvement retailer plans to shut down all of its stores in the Chicago area and Wisconsin by the end of the year if it can’t find a buyer. NBC 5’s Regina Waldroup has the details. A suburban-based home improvement retailer plans to shut down all of its stores in the Chicago area and Wisconsin by the end ...
Where is Hobo selling liquidation?
HOBO is holding a liquidation sale at its seven stores including this one at 87th and Cicero in Oak Lawn. (Bob Bong / Daily Southtown)
Who is the bankruptcy attorney for Hobo?
HOBO’s lead bankruptcy attorney, Jonathan Friedland of Sugar Felsenthal Grais & Helsinger LLP, stated in a release, “Brick and mortar retail, of course, has been decimated in recent years and the story of retail generally is very much a part of HOBO’s story. But other factors also contributed, including intense competition from new and rapidly expanding competitors, and a slowing of discretionary spending, including do-it-yourself home projects.”
Is Hobo going bankrupt?
Now, HOBO , as the stores are known, is about to suffer the same fate as Handy Andy. The company filed for Chapter 11 bankruptcy late last month and has started liquidation sales.
