Daily News: November 5, 2012

Hilco Merchant Announces Sale of Johnnie’s Foodmaster Stores

Hilco Merchant Resources was selected by Johnnie’s Foodmaster Markets to manage total liquidation of its inventory.

After 65 years in business, store closing sales began on Friday, November 2, at all ten Johnnie’s Foodmaster supermarkets. The closing stores are located in Arlington, Brookline, Charlestown, Lynn, Medford, Melrose, Somerville, South Weymouth and Whitman.

Discounts were offered on all food and beverages, household products and general merchandise.

Michael Keefe, chief executive officer of Hilco Merchant Resources, stated, “Our selection by Foodmaster to conduct this store closing event is yet another gratifying acknowledgment of Hilco’s unsurpassed, industry leading expertise in the supermarket sector.”

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.