Gordon Brothers was engaged to sell by private treaty more than $85 million of inventory and the assets of two 775,000-square-foot fulfillment centers on behalf of Zulily ABC, a U.S.-based online retailer that specializes in the sale of apparel and home products.
Zulily ABC’s parent, Zulily Group, recently decided to shutter its operations. To facilitate this process, Zulily entered an assignment for the benefit of creditors in December to complete the orderly wind-down of the business and maximize the recovery for its creditors.
The inventory available for sale includes nationally branded consumer products, including apparel, footwear, small appliances, beauty products and housewares. The available fixed assets include material handling equipment, racking equipment and other warehouse support machinery.
“This is a great opportunity to acquire a wide selection of well-known, nationally branded fashion and home products inventory,” Ulos Anderson, senior managing director of commercial and industrial at Gordon Brothers, said. “As global market leaders with a 120-year history working with consumer product companies and retailers, we have been trusted in difficult situations to provide customized and rapid solutions that maximize asset value for our clients.”
“Zulily’s decision to shut down operations was not entered into lightly, and we’re confident our partnership will maximize value for all parties,” Michael Guelfo, managing director of commercial and industrial at Gordon Brothers, said. “As a market leader in industrial fixed asset trading, our best-in-class infrastructure and deep asset knowledge made us the natural choice for the sale.”
