Heilig-Meyers to Close 346 Stores; Going Out of Business Sales to Begin Immediately

Scheduled Closures Include Stores in:

AL, AZ, CO, FL, GA, IA, IL, IN, KY, LA, MO, MS,

NC, NM, NV, OH, OK, PA, SC, TN, TX, VA & WV



Apr 26, 2001, 01:00 ET from The Ozer Group

    LOS ANGELES, April 26 /PRNewswire/ -- Going Out of Business sales will
 begin Friday, April 27, at 346 Heilig-Meyers stores with liquidation discounts
 taken on all merchandise.  These sales were initiated after the U.S.
 Bankruptcy Court for the Eastern District of Virginia approved on Tuesday the
 selection of a four-company partnership to orchestrate the process for the
 Richmond, Va., -- based Heilig-Meyers.
     The partnership of Hilco Merchant Resources, of Chicago, Schottenstein
 Bernstein Capital Group LLC of Columbus, Ohio, and Great Neck, N.Y., The Ozer
 Group LLC of Needham, Mass., and Professional Sales & Consulting Company Inc.
 of Enterprise, Ala, and Orlando, Fla., prevailed over several other companies
 for the right to liquidate more than $250 million in inventory at these 346
 Heilig-Meyers' stores.  After yesterday's court ruling, representatives of the
 partnership were immediately deployed to prepare the stores and the
 merchandise for immediate liquidation.
     The Company opened its first Heilig-Meyers store in 1913 and at its peak
 operated more than 900 stores across the US and Puerto Rico.
     "While it is sad to see the end of what is truly a piece of Americana, the
 short term upside in this case is really for the consumers.  These stores are
 packed with the highest quality furniture for every room in the house and
 since this is the end of the final Heilig-Meyers stores, everything is going
 to have to be sold, even if it's at very steep discounts," the partnership of
 liquidators said.
     Hilco Merchant Resources, its parent company, Hilco Trading Co. Inc. and
 its affiliates, with offices in Boston, Toronto and London, provide strategic
 financial services for retailers, distributors, manufacturers, lenders,
 venture capitalists, investment bankers and the professionals that serve them.
 Hilco Trading Co. Inc. has offices across North America with national and
 international resources, capabilities and experience.  For more than 25 years,
 Hilco Trading Co., Inc., and its principals have sold more than $25 billion of
 retail inventories in over 1,000 major liquidations involving 7,500 locations.
 To learn more about Hilco Merchant Resources, visit www.hilcotrading.com.
     Schottenstein Bernstein Capital Group LLC is a provider of retail
 consulting services and purchaser of retail assets, including inventory,
 receivables and property. An affiliate of Schottenstein Stores Corporation,
 owner and operators of Value City Department Stores, DSW Designer Shoe
 Warehouse, Value City Furniture and American Eagle Outfitters, SBCG performs
 specialized services for fellow retailers in the areas of management
 consulting, inventory valuation/liquidation and retail acquisitions and
 dispositions.  SBCG operates throughout North and South America and Europe
 with offices in Columbus, Ohio, New York, Birmingham, England and Sao Paolo.
 For further information on SBCG, visit www.esbcg.com .
     The Ozer Group is one of the country's leading retail consulting, business
 evaluation and asset disposition firms.  Ozer is quick, flexible and creative
 in offering solutions to retailers of all sizes throughout North America and
 Europe.  In addition to helping companies maximize realization for their
 assets, Ozer manages human resources issues, real estate relationships and
 other critical areas that are affected when companies undergo change.  Ozer's
 management and partners are retailers who have managed thousands of stores and
 billions of dollars in inventory.  To learn more about The Ozer Group, visit
 www.ozer.com .
     Professional Sales & Consulting Company Inc. specializes in the
 liquidation of furniture and appliance retailers across the United States and
 Canada.  Professional Sales conducts liquidation sales with large and small
 furniture retailers.  Professional Sales & Consulting helps furniture
 retailers exit poorly performing locations and conducts cash raising sales.
     To see the list of Heilig-Meyers stores, please use the store locator at
 http://www.heiligmeyers.com/store/
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X48668275
 
 

SOURCE The Ozer Group
    LOS ANGELES, April 26 /PRNewswire/ -- Going Out of Business sales will
 begin Friday, April 27, at 346 Heilig-Meyers stores with liquidation discounts
 taken on all merchandise.  These sales were initiated after the U.S.
 Bankruptcy Court for the Eastern District of Virginia approved on Tuesday the
 selection of a four-company partnership to orchestrate the process for the
 Richmond, Va., -- based Heilig-Meyers.
     The partnership of Hilco Merchant Resources, of Chicago, Schottenstein
 Bernstein Capital Group LLC of Columbus, Ohio, and Great Neck, N.Y., The Ozer
 Group LLC of Needham, Mass., and Professional Sales & Consulting Company Inc.
 of Enterprise, Ala, and Orlando, Fla., prevailed over several other companies
 for the right to liquidate more than $250 million in inventory at these 346
 Heilig-Meyers' stores.  After yesterday's court ruling, representatives of the
 partnership were immediately deployed to prepare the stores and the
 merchandise for immediate liquidation.
     The Company opened its first Heilig-Meyers store in 1913 and at its peak
 operated more than 900 stores across the US and Puerto Rico.
     "While it is sad to see the end of what is truly a piece of Americana, the
 short term upside in this case is really for the consumers.  These stores are
 packed with the highest quality furniture for every room in the house and
 since this is the end of the final Heilig-Meyers stores, everything is going
 to have to be sold, even if it's at very steep discounts," the partnership of
 liquidators said.
     Hilco Merchant Resources, its parent company, Hilco Trading Co. Inc. and
 its affiliates, with offices in Boston, Toronto and London, provide strategic
 financial services for retailers, distributors, manufacturers, lenders,
 venture capitalists, investment bankers and the professionals that serve them.
 Hilco Trading Co. Inc. has offices across North America with national and
 international resources, capabilities and experience.  For more than 25 years,
 Hilco Trading Co., Inc., and its principals have sold more than $25 billion of
 retail inventories in over 1,000 major liquidations involving 7,500 locations.
 To learn more about Hilco Merchant Resources, visit www.hilcotrading.com.
     Schottenstein Bernstein Capital Group LLC is a provider of retail
 consulting services and purchaser of retail assets, including inventory,
 receivables and property. An affiliate of Schottenstein Stores Corporation,
 owner and operators of Value City Department Stores, DSW Designer Shoe
 Warehouse, Value City Furniture and American Eagle Outfitters, SBCG performs
 specialized services for fellow retailers in the areas of management
 consulting, inventory valuation/liquidation and retail acquisitions and
 dispositions.  SBCG operates throughout North and South America and Europe
 with offices in Columbus, Ohio, New York, Birmingham, England and Sao Paolo.
 For further information on SBCG, visit www.esbcg.com .
     The Ozer Group is one of the country's leading retail consulting, business
 evaluation and asset disposition firms.  Ozer is quick, flexible and creative
 in offering solutions to retailers of all sizes throughout North America and
 Europe.  In addition to helping companies maximize realization for their
 assets, Ozer manages human resources issues, real estate relationships and
 other critical areas that are affected when companies undergo change.  Ozer's
 management and partners are retailers who have managed thousands of stores and
 billions of dollars in inventory.  To learn more about The Ozer Group, visit
 www.ozer.com .
     Professional Sales & Consulting Company Inc. specializes in the
 liquidation of furniture and appliance retailers across the United States and
 Canada.  Professional Sales conducts liquidation sales with large and small
 furniture retailers.  Professional Sales & Consulting helps furniture
 retailers exit poorly performing locations and conducts cash raising sales.
     To see the list of Heilig-Meyers stores, please use the store locator at
 http://www.heiligmeyers.com/store/
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X48668275
 
 SOURCE  The Ozer Group