Guest123_x1
Guest
- 0
- Posts
With the retail apocalypse raging on with obviously no end in sight, brick and mortar retailers everywhere are holding "Going Out of Business Total Liquidation Sales", where a store sells off what's left of its inventory at (supposed) discounts, to entice shoppers to get there and buy up the remaining merchandise before the store closes for good.
Have you ever been to a liquidation sale of any retail store, either locally-owned, regional, or a major national chain?
A couple of months ago, my mom and I shopped at the Fairway Discount Store during its liquidation (which the store owner blamed on national chains such as Family Dollar and Dollar General coming in and taking away market share). It was bittersweet knowing that my mom and I could find certain things there that couldn't be easily found anywhere else, plus greeting cards were always discounted off of their marked prices there.
With so many Kmarts having to close, my mom and I are still waiting for the closest Kmart near us (Vienna Township/Clio) to be announced for liquidation, perhaps in the next round of closure announcements (which could be as soon as the week between Christmas and New Year's, based on speculation posted on TheLayoff).
Back in early 2009, I was tempted to drive all the way out to Circuit City during their going out of business sale, thinking that I would snag some great deals on computer stuff. In hindsight, though, I'm actually glad I missed their GOB sale (which was a result of their Chapter 7 bankruptcy case), since I would eventually read multiple horror stories about customers who bought damaged merchandise, including destroyed video game discs and shattered TVs, from Circuit City's liquidators*.
*Typically, when a major retail store goes out of business, its inventory, including fixtures, is sold to a liquidation company for pennies on the dollar, and they take it from there. Once that happens, (insert retailer name here) is out of the picture, and the liquidator hires any remaining employees they need to complete the liquidation, putting them on their payroll. Everything that goes on in a soon-to-close store is under the control of the liquidator. This is why Circuit City's GOB sale was so controversial: Customers were actually NOT dealing with Circuit City, but the liquidation companies assigned to handle the liquidation of all the chain's stores.
Have you ever been to a liquidation sale of any retail store, either locally-owned, regional, or a major national chain?
A couple of months ago, my mom and I shopped at the Fairway Discount Store during its liquidation (which the store owner blamed on national chains such as Family Dollar and Dollar General coming in and taking away market share). It was bittersweet knowing that my mom and I could find certain things there that couldn't be easily found anywhere else, plus greeting cards were always discounted off of their marked prices there.
With so many Kmarts having to close, my mom and I are still waiting for the closest Kmart near us (Vienna Township/Clio) to be announced for liquidation, perhaps in the next round of closure announcements (which could be as soon as the week between Christmas and New Year's, based on speculation posted on TheLayoff).
Back in early 2009, I was tempted to drive all the way out to Circuit City during their going out of business sale, thinking that I would snag some great deals on computer stuff. In hindsight, though, I'm actually glad I missed their GOB sale (which was a result of their Chapter 7 bankruptcy case), since I would eventually read multiple horror stories about customers who bought damaged merchandise, including destroyed video game discs and shattered TVs, from Circuit City's liquidators*.
*Typically, when a major retail store goes out of business, its inventory, including fixtures, is sold to a liquidation company for pennies on the dollar, and they take it from there. Once that happens, (insert retailer name here) is out of the picture, and the liquidator hires any remaining employees they need to complete the liquidation, putting them on their payroll. Everything that goes on in a soon-to-close store is under the control of the liquidator. This is why Circuit City's GOB sale was so controversial: Customers were actually NOT dealing with Circuit City, but the liquidation companies assigned to handle the liquidation of all the chain's stores.
Last edited: