MOSS ADAMS CAPITAL: Apparel and foowear market monitor highlights notable deals, stock prices and results.
Details on Industry Insight.
Going-out-of-business Sales Start Today with Savings of 20% to 40% Off All Merchandise
BOSTON, MA and CHICAGO, IL - May 5, 2011 - Metropark, a retailer of brand name men's and women's apparel and accessories, will be closing all 69 store locations nationwide. Store closing sales start today, Thursday, May 5, 2011 and will continue until all merchandise is sold.
Consumers can find incredible savings on all merchandise including items from brand name designers such as True Religion, Diesel, Rock & Republic, BCBG, G-Star, Obey, 7-Diamonds and more. High-end DJ equipment and flat screen televisions will also be sold along with other store fixtures such as apparel racks, shelving and lighting.
"Our customers have shown us great loyalty over the years. These designer brands are rarely discounted, we hope our customers take advantage of these incredible savings," said Cynthia Harriss, Chief Executive Officer of Metropark USA, Inc.
All Metropark stores will honor gift cards throughout the entire sale. All sales made on or after Thursday, May 5, 2011 are final.
Gordon Brothers Group and Hilco Merchant Resources are collectively running the going-out-of-business sales on Metropark's behalf.
"Discounts on these high-end brands are uncommon so we expect merchandise will sell out quickly. We encourage customers to shop early when the broadest selection of merchandise is available," said Thomas Lonabocker, Principal & Manager Director, Gordon Brothers Group, and Michael Keefe, CEO of Hilco Merchant Resources, in a joint statement.
Visit www.metroparkusa.com for additional sale information and location listings.
Founded in 1903, Gordon Brothers Group (www.gordonbrothers.com) is a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial and real estate sectors. Gordon Brothers Group maximizes value for both healthy and distressed companies by purchasing or selling all categories of assets, appraising assets, providing debt financing, making private equity investments, and operating businesses for extended periods. Gordon Brothers Group conducts over $50 billion in transactions and appraisals annually.
Based in Northbrook, IL, Hilco Merchant Resources (www.hilcomerchantresources.com) provides high-yield analytical, operational, asset monetization, capital investment and advisory services to help retailers define and execute their strategic initiatives. Activities fall into seven principal categories: acquisition of disposition of duplicative or underperforming stores; retail company or division wind downs, event sales to convert unwanted assets into working capital; facilitation of mergers and acquisitions; interim company, division or store management; loss prevention; and, monetization of furniture, fixtures and equipment.
Over the years, Hilco principals have disposed of assets valued in excess of $150 billion. Hilco Merchant Resources is part of the Hilco organization, a provider of asset valuation, acquisition, disposition and advisory services to an international marketplace through twenty specialized business units. Also headquartered in Northbrook, IL, Hilco maintains offices in major business centers throughout North America and Europe. For more information please visit: (www.hilcotrading.com).