Liquidating a retail store
Don’t limit your search to one website or one vendor; check out similar products being sold by other vendors, either online or in your neighborhood. It’s important to understand who – and why – they are selling, so that you know what you’re dealing with. Make sure that the goods you are buying have a ready market that you can turn quickly.And, once you take delivery, where will you store it? Also, inspect what you plan to buy so that you know the quality of the merchandise; make sure the quality is decent and corresponds to the price you plan to charge.Walmart Liquidations is an official liquidation channel for and Walmart Stores, Inc.Walmart Liquidations allows resellers to bid on excess inventory, store returns, and refurbished bulk lots directly from Walmart.If the goods have been checked and graded, you’ll pay more.One good rule of thumb is to buy as far up the liquidation chain as possible – the more times your merchandise has changed hands, the more likely that it is poor quality or won’t sell.Buying low and selling high is at the core of any successful business. However, you need to know as much as possible about what you’re buying, and how you plan to sell it.
Thankfully, there are lots of opportunities to find other businesses who are looking to cash out and unload inventory at pennies on the dollar. First, check out the Internet for websites that will lead you to reputable liquidation wholesalers.Lots range in size from single pallets up to truckloads of excess inventory, and typically sell at a fraction of retail MSRP.Common auction items include TVs, electronics, furniture, bikes, appliances, apparel and more. Tiger Group and Great American Group are supervising the going-out-of-business sales at the retailer’s 16 stores in New York, Georgia, Massachusetts, Colorado, California, Florida, Arizona, Maryland and South Carolina. Barth filed for Chapter 7 bankruptcy protection on Nov. The liquidation sales include the retailer’s inventories of home furnishings such as throws, rugs and natural textiles, as well as traditional artisan goods from countries such as India and Brazil.The remaining 16 stores will be shuttered at the close of the liquidation process. Sears reported a net loss of 8 million (.19 loss per diluted share) for the quarter ended Oct.