Bankrupt retailers face a new hurdle: Getting rid of inventory

Deep discounts and liquidation sales are no longer enough to lure customers

By: Abha Bhattarai

September 8, 2020 at 7:00 a.m. EDT

The nation’s bricks-and-mortar retailers were undergoing a reckoning years before the pandemic led to shutdowns and a tanking economy, tipping more than a dozen major retailers into bankruptcy and prompting many others to thin their ranks.

The result: […]

A Total of 44 Retailers Have Already Filed for Bankruptcy This Year and Many Others are Expected to Follow
EXCERPT: ADVERTISER NEWS | MONDAY AUGUST 24, 2020

The coronavirus pandemic is upending the way U.S. consumers shop and the holidays will be no exception as major retailers and shippers roll out their earliest-ever shopping season. Target, Best Buy and Kohl’s have moved winter holiday promotions up to as […]

Stein Mart to Close 279 Locations Through Going Out of Business Sales

Stein Mart filed for Chapter 11 reorganization and authorized going out of business sales by a joint venture comprising Gordon Brothers, Hilco Merchant Resources, Tiger Capital Group, B. Riley Financial’s Great American Group and SB360 Capital Partners. The sale process is underway at all 279 Stein Mart locations across the U.S.

Founded in 1908, Stein […]

New York & Company Store Closing Sales Begin with Deep Discounts

LOS ANGELES, July 28, 2020 /PRNewswire/ — B. Riley Financial, Inc. (NASDAQ:RILY) (“B. Riley”) affiliate, Great American Group, and Tiger Capital Group today announced that store closing sales have begun at all New York & Company retail locations across the United States. The firms are conducting liquidation sales across approximately 380 store locations in connection with the recent bankruptcy […]

US liquidators give retailers ‘sticker shock’ over unsold goods
Retailers are turning to liquidators to offload stock but are alarmed at how little they pay
America’s largest liquidation firms say retailers have been inundating them with calls to offload goods following weeks of lockdown, only to balk at the ultra-low prices they are offering to take inventory off their hands. Coronavirus upended retailers’ inventory planning, leaving goods […]

Retail Inventory Valuations Bounced Back During Re-Openings

By Marianne Wilson – 07/07/2020

Retail inventory valuations bounced back quickly to surprising health levels quickly in May and June. As large numbers of Americans responded to retail re-openings by hunting for bargains at liquidation sales.

That’s according to executives from Tiger Capital Group, who participated in a webinar with analysts from Goldman Sachs that focused on U.S. retail liquidations and […]