A liquidating

Several companies may bid at auction for the right to be the debtor's GOB agent.The liquidator typically prices products close to retail at the start of a GOB sale, with prices reduced periodically throughout the sale term until all the inventory is sold.In retail bankruptcy cases, liquidations are typically accompanied by going-out-of-business (GOB) sales.Most often, these sales are administered by an "agent" hired by the debtor that guarantees the estate a certain percentage of the cost value of the debtor's inventory, with a higher recovery possible depending upon the ultimate results of the sales.

Once the GOB sales are completed, retail debtors in liquidation will typically auction leases and sell any remaining assets, including intellectual property.In recent months liquidations, as opposed to reorganizations or going concern sales, have become a common method of achieving this goal.Indeed, even in cases where a substantial portion of the business is sold, the ultimate value to general, unsecured creditors is often derived from the liquidation of other assets.Famous retail brands such as Circuit City, Whitehall Jewelers, Linens 'n Things, Friedman's Inc., The Sharper Image, Boscov's, Mervyn's, Steve & Barry's and Bombay Company have all recently liquidated in bankruptcy.Most of these retailers began the bankruptcy process with the hope of reorganizing or selling some stores as going concerns, but were quickly forced to liquidate.

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  1. (Five from a very quick scan — i'm sure you could find more: Also, here's the email I sent Mark on September 4 about that Axe post, which I think is pretty clear: "Have been thinking a bit about tone, and we need to talk.