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Monday, 14 December, 2009 3:57 PM
Nationwide Retailer InkStop Closes 150 Stores and Locks Employees Out. Court Orders Stores to Re-open and Begin Liquidation Sales
CLEVELAND -- Cleveland, OH -based InkStop Stores, a nationwide retailer who abruptly locked employees out of stores in October, starts liquidation sale this week by court order to return money to creditors. Liquidation sales will be in Philadelphia, PA, Washington, DC, Cleveland, OH, Detroit, MI, Atlanta, GA, St. Louis, MO, Dallas, TX, and Denver, CO. Grand Rapids, Michigan-based Liquid Asset Partners and Chicago-based Solid Asset Solutions will run a liquidation sale of 150 Stores of Merchandise from 27 selected sale stores. The liquidation event will be the largest electronics sale this holiday to buy digital cameras, GPS's, MP3 players, computer gadgets and printer ink at liquidation prices.
The bankruptcy court order directs Liquid Asset Partners LLC and Solid Asset Solutions LLC to sell millions of dollars of inventory and equipment owned by InkStop. The Liquidation firms are charged with the task of re-opening the sale sites in a very short few days. They cut deals with landlords and work with utility companies to get heat and electricity turned on. Some stores even hold sales without heat or electricity, due to delays with utility companies. The discounts in sale stores are 50% off or more starting Friday, December 11th.
"We truly feel for the employees and their families during this holiday," says Bill Melvin Jr., CEO of Liquid Asset Partners. "These stores were closed in an abrupt fashion and we've re-opening them quickly to try to save as much value as possible for all involved. We are open for liquidations in the selected stores and the customer response is tremendous!"
The Bankruptcy Court order states that everything must be sold. Regardless of cost or loss, millions of dollars worth of inventory will be sold thru 27 locations. The Liquidation firms will be selling at enormous discounts, right from the start. Customers can buy ink for their printers as well as cameras, and gadgets for the computer fanatic.
"These electronics represent a huge inventory to sell during the month of December. To make the sale successful we are prepared to deeply discount the inventory and sell everything in one month!" says Bill Melvin Jr., CEO of Liquid Asset Partners. "The market is very soft and we are prepared to deeply discount everything," Melvin says. "It's stacked high and we're selling it cheap. The public won't want to miss these deals".
The liquidation sale is going on now at 27 selected liquidation locations in Philadelphia, PA, Washington, DC, Cleveland, OH, Detroit, MI, Atlanta, GA, St. Louis, MO, Dallas, TX and Denver, CO markets. It is open to the public everyday until everything is sold. Hours of operation are 10 am till 7 pm Monday thru Saturday and 12 noon to 5 pm on Sunday. Buyers may view sale locations online at www.LiquidAssetPartners.com.
Source: Liquid Asset Partners LLC
PHOTO BY JASON RZUCIDLO / ©AMERICAJR.com
"Store Closing Liquidation" signs direct shoppers to the InkStop store.
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