Content about Liquidation

December 18, 2013

Appraisal firms are often asked by lenders if condensing a retail chain’s store base early on, or even prior to, the beginning of a liquidation sale will enhance the overall net recovery value (NOLV) of the inventory.

By John Cronin, Tiger Group, jcronin@tigergroup.com

February 12, 2013

A&G Realty Partners said it has been retained by Bakers Footwear Group Inc. to handle the liquidation of its remaining 56 mall stores.

New York -- A&G Realty Partners said Tuesday it has been retained by Bakers Footwear Group Inc. to handle the liquidation of its remaining 56 mall stores.

According to A&G, an auction for the store leases is slated for Feb. 18, with a deadline to submit bids to A&G Realty by Feb. 21.

January 28, 2013

By Kevin Farkas, Active International

September 15, 2011

A Wednesday report by Detroit News said that Borders Group Inc. has appointed turnaround specialist Ojas Shah as its CFO to lead the company toward final liquidation.

Ann Arbor, Mich. -- A Wednesday report by Detroit News said that Borders Group Inc. has appointed turnaround specialist Ojas Shah as its CFO to lead the company toward final liquidation.

Shah has been a director of Alix Partners, the firm providing financial restructuring and bankruptcy services to Borders.

Borders, which filed for Chapter 11 bankruptcy protection in February, is slated to close all stores effective Sunday, Sept. 18.

July 29, 2011

According to court papers filed with the U.S. Bankruptcy Court in Manhattan, Borders Group is planning to auction off its intellectual property, including the Borders brand name and the Borders.com website, in a move that will enable the brand to live on after liquidation in a limited fashion.

New York City -- According to court papers filed with the U.S. Bankruptcy Court in Manhattan, Borders Group is planning to auction off its intellectual property, including the Borders brand name and the Borders.com website, in a move that will enable the brand to live on after liquidation in a limited fashion.

The Sept. 14 auction, which will sell off the logo, trademarks, website, customer lists and other intellectual property, is expected to draw millions of dollars worth of offers.

July 20, 2011

Borders Group said objections from creditors are irrelevant because the company’s liquidation means it will not carry on any contracts with business partners, Bloomberg reported.

New York City -- Borders Group said objections from creditors are irrelevant because the company’s liquidation means it will not carry on any contracts with business partners, Bloomberg reported.

Borders is due to seek court approval Thursday to liquidate its 399 remaining stores. The approximate 99 objections from creditors should be overruled, the company said in court papers, as it does not plan to keep or transfer any contracts or leases, the report said.
 

July 19, 2011

Big Lots announced Tuesday that it has completed its acquisition of Brantford, Ontario-based Liquidation World, representing Big Lots’ first foothold outside of the United States.

Columbus, Ohio -- Big Lots announced Tuesday that it has completed its acquisition of Brantford, Ontario-based Liquidation World, representing Big Lots’ first foothold outside of the United States.

Closeout retailer Liquidation World currently operates 89 stores in Canada.

July 18, 2011

Borders Group inched closer to liquidation after a 5 p.m. Sunday deadline passed and no bidders emerged to keep the bankrupt chain in business.

New York -- Borders Group inched closer to liquidation after a 5 p.m. Sunday deadline passed and no bidders emerged to keep the bankrupt chain in business. 

Late last week, investor Najafi Cos. decided to drop out of an effort to keep Borders' remaining 400 stores open.

July 14, 2011

Borders Group moved closer to liquidation after a judge on Thursday approved its motion to auction itself off with an offer from liquidators as its opening bid.

New York — Borders Group moved closer to liquidation after a judge on Thursday approved its motion to auction itself off with an offer from liquidators as its opening bid. The retailer said it will accept bids until 5 p.m. Sunday and will give notice by Monday if no other bidder emerges.

May 26, 2011

Big Lots on Thursday trimmed its expectations for the year amid a fall in first-quarter earnings. In a separate statement, Big Lots said it signed an agreement to buy the Canadian closeout retail chain Liquidation World.

Columbus, Ohio — Big Lots on Thursday trimmed its expectations for the year amid a fall in first-quarter earnings. In a separate statement, Big Lots said it signed an agreement to buy the Canadian closeout retail chain Liquidation World.

Based in Brantford, Ontario, Liquidation World operates 92 stores in Canada. It is Big Lots’ first expansion outside of the United States

Big Lots posted earnings of $52.5 million for the period ended April 30, compared with $55.9 million a year earlier.

April 21, 2011

Borders is seeking at least $50 million in additional financing as sales trail expectations and publishers demand cash in advance, according to two people who have seen the chain’s plans to reorganize, Bloomberg reported.

New York City -- Borders is seeking at least $50 million in additional financing as sales trail expectations and publishers demand cash in advance, according to two people who have seen the chain’s plans to reorganize, Bloomberg reported. The bankrupt retailer already has a $505 million debtor-in-possession loan from lenders led by GE Capital.

Borders may risk liquidation without further investment, easier terms from vendors or a buyer, said the people, who declined to be identified because the process isn’t public, the report said.

March 11, 2011

A Manhattan bankruptcy judge on Thursday has cleared the path for Blockbuster to sell itself to a group of hedge funds, preventing the movie rental chain from having to liquidate its assets.

New York City -- A Manhattan bankruptcy judge on Thursday has cleared the path for Blockbuster to sell itself to a group of hedge funds, preventing the movie rental chain from having to liquidate its assets.

Judge Burton R. Lifland has approved procedures for the auction of Blockbuster, with a $290 million initial offer from a group of senior bondholders led by hedge fund Monarch Alternative Capital.
 

March 9, 2011

The sale of the financially-beleaguered furniture retailer Robb & Stucky to liquidation firm Hudson Capital Partners of Massachusetts was approved Tuesday at a bankruptcy hearing in Tampa, the South Florida Sun-Sentinel reported.

New York — The sale of the financially-beleaguered furniture retailer Robb & Stucky to liquidation firm Hudson Capital Partners of Massachusetts was approved Tuesday at a bankruptcy hearing in Tampa, the South Florida Sun-Sentinel reported.

Hudson Capital, in a joint venture with Hyperams LLC, offered the highest bid for the 96-year-old Fort Myers-based company, which operates 20 stores, mostly in Florida.

June 17, 2010

Movie Gallery’s Canadian subsidiary has begun liquidating all 181 of its video rental stores, including...

January 25, 2010

Abacus Advisors LLC announced Tuesday that FB Liquidating Estate (formerly known as Filene’s Basement) confirmed...

November 19, 2008

Despite trying for several months to salvage the company, the word is that Steve &...

November 17, 2008

The Wall Street Journal on Tuesday reported that Steve & Barry’s will be liquidated and...

November 10, 2008

The latest victim of a troubled economic climate, Harold’s Stores filed for Chapter 11 bankruptcy...

October 16, 2008

Mervyns LLC plans to close its remaining 149 stores and shut down after nearly six...

October 7, 2008

Linens ’n Things chief restructuring officer Michael Gries on Tuesday asked permission of the bankruptcy...

September 16, 2008

Steve & Barry's has begun final liquidation sales at the 103 locations it will be...

March 4, 2008

Tweeter Home Entertainment Group Inc. won four more months to control its bankruptcy case....

February 11, 2008

Domain, whose stores operate as Domain Home, will conduct a court-ordered bankruptcy liquidation sale beginning...

February 7, 2008

Tweeter Home Entertainment Group Inc. said it needs more time to analyze...

December 10, 2007

New York City Levitz Furniture is liquidating its assets and closing all 76 of its...