Daily News: September 12, 2012

Hilco, Gordon Brothers Slate GOB Sales for All Ritz Camera Stores

After 94 years, going-out-of-business (GOB) sales have begun at all 137 Ritz Camera, Wolf Camera, Inkley’s, Proex, The Camera Shop and Camera World locations.

The going-out-of-business sales are being managed by a joint venture composed of Hilco Merchant Resources, LLC and Gordon Brothers Group, LLC. A spokesperson for the joint venture stated, “We expect this will be an extremely short sale because of the outstanding merchandise selection, the great brands and the significant price reductions. Consumers are encouraged to take advantage of these compelling values now while selection is best.”

Storewide price reductions are being taken on more than $25 million worth of the finest photography equipment and accessories from the best brands including Sony, Nikon, Canon, Panasonic, Pentax, Olympus, Kodak and FujiFilm.

Based in Northbrook, IL, Hilco Merchant Resources provides high-yield analytical, operational, asset monetization, capital investment and advisory services to help retailers define and execute their strategic initiatives.

Founded in 1903, Gordon Brothers Group is a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial and real estate sectors.

To read the Hilco/Gordon Brothers press release, which lists the store locations, in its entirety, click here.

Previously on abfjournal.com:

Hilco, Gordon Brothers to Liquidate Ritz Camera, Tuesday, September 11, 2012