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Posts with tag: going-out-of-business-sale | Return to ShoppingBlog.com Homepage
Jewelry Store Chain Ordered to End Endless Going Out of Business Sales
JCK Online reports that a jewelry store chain in Ohio caleld International Diamond and Gold Company has been ordered to stop running going-out-of-business sale events. The court deemed the store's going-out-of-business sales - which ran for several months - were misleading to customers.
A statement from the Attorney's General office charged that IDG has been conducting "going out of business" sales for more than 90 days and was supplementing inventory during the sales, both violations of Ohio law. Cordray's office launched an investigation into IDG's sales in August. On Aug. 27, the Attorney General issued a cease and desist notice. The court ruling on the case came Dec. 16.
Ironically, the stores really will be closing in December when they will presumably need to run going out of business sales.
(via Luxist)
Posted on December 28, 2009
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Joe's Sports & Outdoors Begins Liquidation Sales
 Joe's Sports & Outdoors is closing all 31 of its stores. The retailer started going-out-of-business sales event starts storewide Friday, April 10th. The sales will continue until all merchandise is sold. Gordon Brothers Group will be running the going-out-of-business sale.
"This historical event will mark the end of an era," said Thomas Lonabocker, a principal at Gordon Brothers Group. "Consumers will find great values on all merchandise at every store location. Those who arrive first will be able to choose from the broadest selection."
Local coverage of the retailer's liquidation can be found in the Seattle Times, Bellingham Hearld and Seattle Post-Intelligencer.
(via Retailer Daily)
Posted on April 11, 2009
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Gottschalks to Liquidate, Going-out-of-business Sales to Start April 3rd
 Reuters reports that the Gottschalks department store chain will be liquidating. Going-out-of-business sales are expected to begin on April 3rd. The company was purchased by a group of liquidators that purchased Gottschalks during an auction.
U.S. regional department store chain Gottschalks will be liquidated after it failed to attract a buyer willing to operate the company as a going concern, the head of the company's creditors' committee said on Tuesday.
A joint venture of liquidators including SB Capital Group LLC, Tiger Capital Group LLC, Great American Group LLC and Hudson Capital Partners LLC won the auction for the assets of Gottschalks, according to Larry Gottlieb, chair of the bankruptcy and restructuring practice at law firm Cooley Godward Kronish LLP.
The results of the auction are subject to bankruptcy court approval. Going-out-of business sales at the chain are expected to begin on or around April 3, Gottlieb said.
Gottschalks has 58 stores as well as 3 specialty stores. The retailer employed over 5,000 people.
Posted on March 31, 2009
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