Customers of bankrupt outdoor goods retailer Gander Mountain are understandably confused. The the company’s website says all locations are closing, but the CEO who just bought the retailer says that’s not quite true. So are they closing or not? [More]
going out of business
Gander Mountain Advertises That All Stores Are Closing, But They Aren’t
By 5.8.17 — Updated: 5.15.17
Demise Of hhgregg Means You’ll Buy Your Next Fridge From Best Buy
By 4.11.17
The bankruptcy and liquidation of hhgregg is terrible for the retailer’s employees and retail landlords, but someone may benefit from the retailer’s downfall. Best Buy has a national presence and a large overlap with what hhgregg sells, and is in a position to pick up some of the retailer’s former customers the next time that they need a fridge or a computer. [More]
American Apparel To Liquidate Nine Stores Ahead Of January Auction
By 12.20.16
Two weeks after American Apparel confirmed it could lay off 3,500 workers as part of its second bankruptcy go-around in two years, the company received approval to liquidate nine stores by the end of the month. [More]
Fitbit Buying Smartwatch Maker Pebble’s Software, Hiring Engineers
By 12.7.16 — Updated: 12.8.16
Smartwatches and other wearables just haven’t caught on as much as the electronics industry assumed that they would. Pebble — a smartwatch company most famous for pre-selling its products on Kickstarter only to then make sure that Best Buy shoppers got their orders first — has confirmed that it is shutting down and selling off its various assets. You can now count Fitbit among the scavengers picking at Pebble’s bones. [More]
Consignment Deals Don’t Work So Well When Retailers Go Bankrupt
By 7.28.16
It’s time for retailers to start placing their orders for the items that will be on shelves during this holiday season, but one thing may be different from last year: they may be ordering less merchandise on consignment after millions of dollars’ worth of merchandise was stuck in legal limbo during the bankruptcy of big-box sporting goods retailer Sports Authority. [More]
Reminder: You Have Until Tuesday To Use Your Sports Authority Gift Cards
By 6.24.16
If you still have a Sports Authority gift card lurking somewhere in your papers, it’s time to pull it out and spend it on some ski pants or a camping knife or something. As the company’s business winds down, the last day that its remaining stores and website will accept gift cards is Tuesday, June 28, 2016. [More]
There’s $92.5 Million In Outstanding Sports Authority Gift Cards: Use Yours Before June 28
By 5.24.16
We have no idea why you would want to buy a gift card to Sports Authority right now. The big-box sports retailer, with 460 stores across the country, filed for bankruptcy earlier this year and is liquidating and closing all of its stores starting on Wednesday. If you did want to buy one, today is the last day, and the stores will stop accepting gift cards on June 26 June 28. [More]
Another Sporting Goods Company Files For Bankruptcy; All Sport Chalet Stores Closing
By 4.18.16
With the dust just beginning to settle surrounding the bankruptcy and 140-store closure of sporting goods retailer Sports Authority, another, albeit smaller, outdoor gear retailer is following suit. Vestis Retail Group, the operator of brand Eastern Mountain Sports, Bob’s Stores, and Sport Chalet, officially filed bankruptcy papers today, outlining a restructuring plan that focuses on closing 56 stores. [More]
L.A. Boutique Kitson Closing All 17 Stores
By 12.11.15
One of L.A.’s most well-known boutique chains — a relic of the “glory days” of reality TV — is no longer peddling pricey blouses, pants, and accessories to the semi-famous, with Kitson shutting down all 17 of its stores, and its online business.
[More]
Sale Of 1,100 Radio Shack Leases Approved
By 2.20.15
Hey, buddy. Want to rent an abandoned Radio Shack? The quasi-relevant electronics chain received approval from the bankruptcy court today to sell off 1,100 store leases. These stores are open for bidding by anyone interested in taking over the lease––in some locations, Radio Shack has already held store-closing sales and taken off so they won’t have to pay rent in March. [More]
Coldwater Creek Files For Bankruptcy Protection, Planning Big Farewell Sale
By 4.11.14
Where will all of the women in the world shop for quality clothes at good prices? Fine, there are plenty of other clothiers, but that doesn’t make the demise of Coldwater Creek any less sad. The stores aren’t closing just yet, but that will be the next step after the retailer filed for Chapter 11 bankruptcy protection. [More]
Buying Fixtures In A Retail Liquidation Sale: A Cautionary Tale
By 5.19.11
Liquidators hired to clean out a closing retail store sell everything, down to the equipent and fixtures. Well, theoretically they do. Jay bought a handtruck from a closing Borders store, paid in advance, and was told to stop by the store to pick up the purchase later that month when the store actually closed. When he did, the store had closed, and all of the fixtures were gone, along with the liquidators. [More]
Need A Suit? S&K Menswear Closing All 105 Stores
By 5.25.09
The decline in the “work clothing” market continues to take its toll. S&K Menswear are closing all 105 of their retail stores. The liquidation will be handled by Gordon Brothers, so don’t expect any actual deals. Going-out-of-business sales started on Thursday, May 21.
Chrysler Will Close One Fourth Of Its Dealerships Next Month
By 5.15.09
Mark Calisi, 47, who owns Eagle Auto-Mall in Riverhead, New York, says he was “devastated” to learn that his dealership would be closed. He said Chrysler accounts for a third of his business, which also sells Volvo, Mazda and Kia, and that on Thursday he had to sack 30 of his 100 employees.
The Secrets Of Liquidation Sales
By 1.23.09
CNN Money has posted an informative article about what happens at liquidation sales. Some of the people quoted are fairly critical, but even the liquidation company execs that are quoted admit that a liquidation sale doesn’t exist for the benefit of the consumer. Here are the highlights.
Good Samaritan Rescues Linens 'N Things Workers Forced To Stand In Subzero Weather
By 12.22.08
An independent contractor hired in connection…
Liquidation: Linens 'n Things To No Longer Sell Linens, Things
By 10.15.08
Plans to auction off Linens ‘n Things were scrapped Monday night, says the Wall Street Journal, dooming the housewares retailer to liquidation by the end of the year. Apparently, no bidder was willing to offer more than the 475.5 million dollars offered by a group of liquidators who wanted to shut the retailer down.
Pure Weight Loss Helped Customers Lose Money, Not Weight, Says Attorney General
By 1.28.08
Last week, Pennsylvania’s Attorney General filed a consumer protection lawsuit against the PA-based company Pure Weight Loss and its owner, Vahan Karian. Pure Weight Loss, which has about 400 stores nationwide, announced last December that it was going out of business, and yet continued to accept pre-payment from unaware customers up to four days after posting the announcement on its website. Since closing, it has failed to reimburse customers fees for unfulfilled contracts or deliver the supplies they’ve already bought.
