SAN DIEGO, Sep. 2 /PRNewswire/ -- Going Out of Business liquidation sales
will begin Friday, September 3rd, in all 172 Factory 2-U stores located in AZ,
CA, NM, NV, OR, TX and WA. Factory 2-U stores sell branded casual apparel for
the family, as well as selected domestics and household merchandise at prices
which are often significantly lower than prices offered by its discount
competitors. Beginning tomorrow, all merchandise in these 172 stores will be
discounted to facilitate immediate liquidation.
San Diego-based Factory 2-U had announced in mid-August that it had agreed
to sell substantially all of its assets to Factory 2-U Acquisition LLC, a
company headed by an affiliate of National Stores Inc. of Gardena, Calif., The
Alamo Group, Garcel Inc., dba The Great American Group, and The Ozer Group
LLC. Earlier today, the U.S. Bankruptcy Court in Wilmington, DE approved the
consortium's deal, and this consortium will now be managing the Going Out of
Business sales, as well as managing the disposition of the 172 store leases.
Projections are for a brief sale, with each store remaining open only
until the inventory is sold. Existing sales staff in each store will be
retained for the sale duration. Each store has an average of 25 employees.
Frank Morton, Managing Director of The Ozer Group, noted, "Factory 2-U had
a significant amount of fall merchandise in the pipeline which is still
hitting these stores. Additionally we'll be emptying their warehouses and
moving that merchandise into the stores as quickly as we can. This means
these stores will be packed with the newest fall fashions, all of which will
be discounted as part of these going out of business liquidations."
Harvey M. Yellen, CEO of The Great American Group, added "This is a great
time for consumers to stock up because these going out of business sales will
deliver some amazing values. Although the mix varies by store, people will
find great savings on brands like Levi's, Gap, Polo Sport, Converse, Starter
and more. We expect this merchandise will sell quite quickly and that these
sales won't last very long."
The 172 closing stores include 25 in Arizona, 51 in California, 6 in
Nevada, 6 in New Mexico, 10 in Oregon, 15 in Texas and 9 in Washington. The
complete addresses of the 172 closing stores can be found at
Frank Morton, Managing Director, The Ozer Group, (781) 707-4211,
or Harvey M. Yellen, The Great American Group, (847) 444-1400,
SOURCE The Ozer Group