HOBO stores in Villa Park, Waukegan could close as company declares bankruptcy

Home improvement retailer HOBO filed for Chapter 11 bankruptcy protection last week, meaning its five Chicago-area stores could close by the end of the year if the Waukegan-based company can't find a buyer, ABC 7 Chicago reported.

The chain, whose name stands for Home Owners Bargain Outlet, formed in the early 1990s and operates stores in Villa Park, Waukegan, Forest Park, Crest Hill and Oak Lawn as well as two in Milwaukee.

Communities where HOBO stores are located told ABC 7 the potential closings could make a large economic effect.

HOBO employees at the Forest Park store received notice they could be terminated as soon as Dec. 20, ABC 7 reported.

State Rep. LaShawn Ford, a Chicago Democrat representing the 8th District, said he'd like to meet with HOBO owners to see if the state could help the company with its financial troubles through empowerment funds from the federal government, if the company is in fact eligible.