NORTHBROOK, Ill., Oct. 12, 2018 /PRNewswire/ -- National Stores will begin a store closing sale at 184 of its remaining locations today. The store closing sales are being conducted by a joint venture consisting of Hilco Merchant Resources, Gordon Brothers and SB360 Capital Partners. The specific stores that will be closing are currently branded as Fallas and Factory 2-U stores across 12 states and Puerto Rico. The store closing process is the result of the Chapter 11 Bankruptcy filing by National Stores, Inc. and certain of its affiliates. As part of the restructuring, management at the retail chain has conducted a store rationalization process resulting in the shutdown of these specific stores.
Shoppers will find huge markdowns starting today at the locations listed below. The entire store will be on sale, with significant reductions of up to 30% off the lowest ticketed prices. Consumers can take advantage of tremendous savings on a full selection of merchandise including school uniforms & school supplies, backpacks & lunchboxes, apparel & shoes for the whole family in a wide range of styles and sizes. The sale will also feature great deals on home goods items along with famous brand names in all departments.
A spokesperson for the joint venture said, "These stores are well known in the local markets where they have served their communities for years. The sale provides an opportunity for consumers to buy products at compelling discounts. Consumers are encouraged to shop early, stock up on school uniforms and get a head start on holiday shopping while selections are best."
About National Stores: National Stores has locations in twenty-two states and Puerto Rico. National Stores currently does business as Fallas, Fallas Paredes, Fallas Discount Stores, Factory 2-U, Anna's Linens by Fallas, and Falas (spelled with single "l" in Puerto Rico). The National Stores are located in retail plazas, specialty centers, and downtown areas to serve the communities its customers and staff members call home.
About Hilco Merchant Resources: 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. 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 subsidiaries include the nation's premier fixture and equipment liquidation firm, Hilco Fixture Finders (www.hilcofixturefinders.com) as well as the popular online retail and daily deal e-commerce company, Deal Genius, LLC (www.dealgenius.com). Hilco Merchant Resources is part of Northbrook, Illinois based Hilco Global (www.hilcoglobal.com), one of the world's leading authorities on maximizing the value of business assets by delivering valuation, monetization and advisory solutions to an international marketplace.
About Gordon Brothers: Since 1903, Gordon Brothers (www.gordonbrothers.com) has helped lenders, operating executives, advisors, and investors move forward through change. The firm brings a powerful combination of expertise and capital to clients, developing customized solutions on an integrated or standalone basis across four service areas: valuations, dispositions, operations, and investments. Whether to fuel growth or facilitate strategic consolidation, Gordon Brothers partners with companies in the retail, commercial, and industrial sectors to put assets to their highest and best use. Gordon Brothers conducts more than $70 billion worth of dispositions and appraisals annually. Gordon Brothers is headquartered in Boston, with 25 offices across five continents.
About SB360 Capital Partners, LLC:SB360 Capital Partners (www.sb360.com), a Schottenstein Affiliate, helps businesses manage change, restructure assets, and turn around dwindling profitability. SB360's equity investments in retail, wholesale, and consumer product companies, fund turnarounds and infuse capital for growth opportunities. Other acquisitions provide liquidity to businesses experiencing change. SB360 acquires assets of all types including inventory, fixed assets, intellectual property, real estate, and complete business units. Asset disposition services range from guaranteed asset value recovery to acting as a liquidation consultant. The firm also has entities engaged in real estate advisory, commercial real estate investment, and the operation of the SBC Logistics Asset Recovery Center in Columbus. A lending affiliate, Second Avenue Capital Partners, provides asset-based loans for middle market companies. The principals of SB360 hold extensive commercial interests in national retail and wholesale operations; internationally recognized consumer brands; commercial, residential, and industrial real estate properties; and financial service operations.