Gottschalks Another Big Box Bites The Dust

In reading the paper today it looks as though Fresno based big box retailer Gottschalks will face the same ending as Circuit City…Liquidation. It looks as though the winning bid for this chain came from a group of Heavy hitting liquidators including SB Capital Group LLC, Great American Group LLC, Tiger Capital Group LLC and Hudson Capital Partners. This is same “dream team” of liquidators assisted in the liquidation of Circuit City and Mervyns earlier this year.

Very interesting information for those of us interested in shelf pull and excess merchandise. I would encourage all of you to “Google” each of the LLC’s above and find out more information about asset disposition and the liquidation of large chain stores.

Here is a great hint for anyone wishing to purchase merchandise at unheard of pricing and retail fixtures for that matter…take note: Once the liquidation process begins at Gottschalks you will notice large (often yellow) signs advertising, “store closing – prices slashed!”

Do not fall victim to believing inventory will be drastically reduced….until the last few days. I have had the opportunity to visit stores while in the liquidation process and to be honest pricing on the last day or I should say the last hour is incredible!

If you want to purchase inventory for your store or eBay business and you have a Gottschalks in your neighborhood, plan on being a customer on the last day. I am sure that you will realize that the selection will be next to nil, but what is left will be sold at 90-95% off of retail!

When I was at the Troutman’s liquidation sale a few years ago the person in charge of the liquidation sale announced over the loudspeaker that all merchandise is now 95% off. It was that point that I pointed at fours racks of apparel and told the clerk ring it up! I walked out with tons of clothing having paid a measly 5% of original retail. We also bought apparel round racks and hangers at a bargain price.

If you can plan to be at a liquidation sale on the last day I promise you will not only have fun, but will come away with tons of inventory for your business!