Benny’s, a New England discount retailing icon, has announced plans to shutter all of its stores in Massachusetts, Rhode Island and Connecticut.
The family-owned chain employs about 700 people at 31 stores in the region.
After 93 years in business, the retailer said it will close stores by the end of 2017, according to a news release from company CEO Arnold Bromberg.
“As proud owners of Benny’s this is an emotional time for us,” said Bromberg. “Benny’s has been something the Bromberg family has invested enormous amounts of capital, time and energy in for nearly a century in this region. We take great pride in what our retail stores have meant to employees and may loyal customers for so long. But it is simply time. Our current ownership is all at an age where we would like to retire from the business and spend more time with our families.”
Bromberg also cited changes in the retailing business that have made it “almost impossible” for a small chain to compete with big box chain stores and on-line retailing.