Daily News: July 2, 2012

Hilco, Others Conduct GOB Sales for Twenty RoomStore Locations

After more than 20 years in business, going-out-of-business sales have begun in 20 RoomStore, Inc. locations in Maryland and Virginia. A U.S. Bankruptcy Court approved an order authorizing joint venture partners Hilco Merchant Resources, Planned Furniture Promotions, SB Capital Group and Tiger Capital Group to conduct the total liquidation of merchandise and store fixtures, estimated to be worth more than $20 million in each location.

A spokesperson for the joint venture stated, “During its 20 years in business, RoomStore has become a well-known destination for furniture purchases in the many communities they serve. At a time when value means so much to so many people, this going-out-of-business sale offers consumers an important opportunity to acquire fine quality furniture, bedding, rugs and accessories at very meaningful discounts. We believe that shoppers will react very positively to the sale and will quickly take advantage of these outstanding savings.”

Hilco Merchant Resources provides a wide range of analytical, advisory, operational, asset monetization and capital investment services to help retailers define and execute strategic initiatives.

Planned Furniture Promotions, Inc. is a furniture industry specialist in conducting high impact promotional sales.

SB Capital Group is a provider in the field of asset recovery, rescue finance, restructuring and strategic store closing events.

Tiger Group provides advisory, restructuring, valuation, disposition and auction services within a broad range of retail, wholesale, and industrial sectors.