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Hilco Merchant Resources & Gordon Brothers Group to Close Anna's Linens Stores

Jun 25, 2015
Hilco Merchant Resources and Gordon Brothers Group announce closing of Anna's Linens. Going-Out-of-Business Sales Begin June 19th at All Locations Throughout the U.S and Puerto Rico

Hilco Merchant Resources and Gordon Brothers Group announced that they will begin going-out-of-business sales at all Anna's Linens retail locations. The joint venture partners were awarded the store closing process by a U.S. bankruptcy court on June 18th. In addition to the already famously low prices, sales will offer discounts of up to 30% on all merchandise including sheets, bed pillows, comforter sets, bath and beach towels, bed and bath accessories, window treatments, housewares, decorative home accents, storage, gifts and much more.

Anna's Linens currently operates 252 retail locations throughout the United States and Puerto Rico. The company filed for Chapter 11 protection on June 14, 2015. The sale will entail the total liquidation of all merchandise, much of which has been re-stocked within the past week. Store furniture, fixtures, and equipment will also be available for sale.

"These store closing sales feature an outstanding assortment of merchandise at very significant price reductions," a spokesperson for the joint venture stated. "Consumers are encouraged to shop early while the selection is best."

Gift cards must be redeemed by July 14, 2015.

About Hilco Merchant Resources, LLC
Hilco Merchant Resources (www.hilcomerchantresources.com) provides a wide range of analytical, advisory, asset monetization, and capital investment services to help define and execute a retailer's strategic initiatives.  Hilco Merchant Resources' activities fall into several principal categories including acquisitions; disposition of underperforming stores; retail company or division wind downs; event sales to convert unwanted assets into working capital; facilitation of mergers and acquisitions; interim company, division or store management teams; loss prevention; and, the monetization of furniture, fixtures and equipment.

Hilco Merchant Resources is part of Northbrook, Illinois based Hilco Global, the world's leading authority on maximizing the value of business assets by delivering valuation, monetization and advisory solutions to an international marketplace. Hilco Global operates twenty specialized business units offering services that include asset appraisal, retail and industrial inventory acquisition and disposition, real estate repositioning and renegotiation, strategic advisory and operational consulting and strategic capital equity investments.  For more information please visit: (www.hilcoglobal.com).

About Gordon Brothers Group
Founded in 1903, Gordon Brothers Group (www.gordonbrothers.com) is a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial and real estate sectors. Gordon Brothers Group maximizes value for both healthy and distressed companies by purchasing or selling all categories of assets, mitigating leases, appraising assets and operating businesses for extended periods.  Gordon Brothers Group conducts over $70 billion worth of transactions and appraisals annually. As of November 2014, debt financing is provided by Gordon Brothers Finance Company (www.gbfinco.com).


 

Source: Gordon Brothers Group