The Store of Knowledge to Liquidate Inventory in 70 Stores; Chain Continues to Reorganize under Bankruptcy Protection

Apr 12, 2001, 01:00 ET from The Ozer Group

    CHICAGO and NEEDHAM, Mass., April 12 /PRNewswire/ -- The U.S. Bankruptcy
 Court in Los Angeles has approved the selection of The Ozer Group and Hilco
 Merchant Resources to manage the liquidation process in 70 stores operated by
 the Store of Knowledge.  The California-based Store of Knowledge Inc. filed
 for protection in the U. S. Bankruptcy Court for the Center District of
 California, Los Angeles division, on March 28, 2001.
     With more than $30 million in inventory to be liquidated in the upcoming
 weeks, the liquidation sales are already underway.  Signs have been hung and
 discounts have been taken on all merchandise in every store.  Store of
 Knowledge is stocked with educational games, puzzles, books, videos, computer
 software, hobby kits and more.  The merchandise spans more than 60 subjects,
 including history, science, the arts, foreign language, and self-improvement.
     "This is an excellent opportunity for parents to purchase educational
 products for their kids at incredible savings" said Cory Lipoff, EVP &
 Principal of Hilco Merchant Resources.
     "The top names in retail have been forced to restructure," said William
 Weinstein, Principal of The Ozer Group.  "With the Store of Knowledge,
 liquidating these stores is a prudent change necessary for long-term success."
     Jim Berk, President of Store of Knowledge said, "While we are sorry to
 have to liquidate the inventory in these stores, we believe that this is a
 necessary step towards successfully reorganizing."
     Based in Needham, Mass., 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.ozergroup.com.
     Based in Chicago, 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.
 
               List of Store of Knowledge Stores That Are Closing
 
     7014 E. Camelback Rd. Ste. 2300         Scottsdale       AZ     85251
     1630 Redwood Hwy.                       Corter Madera    CA     94925
      200 E. Via Rancho Pkwy. Ste. 341       Escondido        CA     92025
     1156 Glendale Galleria                  Glendale         CA     91210
     2700 Crown Valley Parkway
     sp#820                                  Mission Viejo    CA     92691
     5040 Montclair Plaza Lane               Montclair        CA     91763
       29 Newport Ctr. Drive                 Newport Beach    CA     92660
      355 Stanford Shopping Center Bldg.
      M                                      Palo Alto        CA     94304
     1356 Stoneridge Mall Rd.                Pleasanton       CA     94588
      157 Horton Plaza                       San Diego        CA     92101
     7007 Friars Rd. Ste. 820                San Diego        CA     92108
      160 Hillsdale Mall                     San Mateo        CA     94403
 
     2855 Stevens Creek Blvd. Ste. 2321      Santa Clara      CA     95050-6709
      178 Santa Monica                       Santa Monica     CA     90401
      552 West Hillcrest Drive               Thousand Oaks    CA     91360
     1145 Broadway Plaza Sp C-74             Walnut Creek     CA     94596
     6100 Topanga Canyon Blvd. Ste.
      241                                    Woodland Hills   CA     91367
     8900 Pena Blvd. Unit BM-2H              Denver           CO     80249
     3000 First Ave.                         Denver           CO     80206
     8505 Park Meadows Ctr. Dr. Ste.
     2044                                    Littleton        CO     80124
        7 Backus Avenue                      Danbury          CT     6810
     3222 M Street NW, Suite #W-217          Washington       DC     20007
     7981 Citrus Park Town Center Mall       Tampa            FL     33625
     3393 Peachtree Rd. NE                   Atlanta          GA     30326
     3979 Buford Drive  sp#1026              Buford           GA     30519
      845 N. Michigan Ave.                   Chicago          IL     60611
     2046 Northbrook Court                   Northbrook       IL     60062
      100 Oakbrook Ctr. Ste. 79              Oak Brook        IL     60523
      648 Orland Square                      Orland Park      IL     60462
     L101 Woodfield Shopping Ctr.            Schaumburg       IL     60173
      122 Hawthorne Ctr.  Ste. 321           Vernon Hill      IL     60061
       49 W. Maryland St.                    Indianapolis     IN     46204
    11475 W. 95th Street                     Overland Park    KS     66214
    Briarwood Circle Sp. G105                Ann Arbor        MI     48108
    14600 Lakeside Circle Space H-112        Sterling Heights MI     48313
 
     2800 West Big Beaver Rd. Ste. 356       Troy             MI     48084-3201
 
      268 North Garden                       Bloomington      MN     55425-5550
     4705 Broadway                           Kansas City      MO     64112
 
     2178 Saint Louis Galleria               Richmond Heights MO     63117
     4325 Glenwood Ave., Store 114-A         Raleigh          NC     27612
     3320 Silas Creek Pkwy. Ste. 444         Winston-Salem    NC     27103
     1750 Deptford Center Rd.                Deptford         NJ     8096
     Routes 4 & 17 Space 2140                Paramus          NJ     7652
     1200 Morris Turnpike Ste. D-132         Short Hills      NJ     7078
     1091 3th. Avenue                        New York         NY     10021
      153 World Trade Center Mall            New York         NY     10048
     3462 Palisades Center Dr.               West Nyak        NY     10994
     4150 Belden Village Mall Unit C-15      Canton           OH     44718
     7875 Montgomery Rd.                     Cincinnati       OH     45236
     1108 South Park Ctr.                    Strongsville     OH     44136
     12000 SE 82nd St. Ste. 2185             Portland         OR     97266
     9530 S. W. Washington Square Rd.        Portland         OR     97223
      344 Mall Blvd.                         King of Prussia  PA     19406
      124 Monroeville Mall                   Monroeville      PA     15146
      214 South Hills Village                Pittsburgh       PA     15241
      100 Ross Park Mall Drive               Pittsburgh       PA     15237
     13350 N. Dallas Pkwy. Ste.2600          Dallas           TX     75240
     1042 Baybrook Mall                      Friedswood       TX     77546
     4800 S. Hulen St. Ste. 217              Ft. Worth        TX     76132
     1590 Willowbrook Mall                   Houston          TX     77070
     5015 Westheimer, Ste. 3200              Houston          TX     77056
      811 N. Central Expressway Ste.
     1083                                    Plano            TX     75075
    16535 Southwest Fwy. Ste. 569            Sugar Land       TX     77479
     1100 South Hayes St. Space Y02          Arlington        VA     22202
    11741 L Fair Oaks                        Fairfax          VA     22033
     8034 Tysons Corner Center               McLean           VA     22102
      300 Montecello Ave. Sp. 121            Norfolk          VA     23510
      701 Lynnhaven Pkwy. Sp. E5             Virginia Beach   VA     23452
     3000 184th Street S.W. Ste. 250         Lynwood          WA     98037
      600 Pine St. Ste. 405                  Seattle          WA     98101
 
 

SOURCE The Ozer Group
    CHICAGO and NEEDHAM, Mass., April 12 /PRNewswire/ -- The U.S. Bankruptcy
 Court in Los Angeles has approved the selection of The Ozer Group and Hilco
 Merchant Resources to manage the liquidation process in 70 stores operated by
 the Store of Knowledge.  The California-based Store of Knowledge Inc. filed
 for protection in the U. S. Bankruptcy Court for the Center District of
 California, Los Angeles division, on March 28, 2001.
     With more than $30 million in inventory to be liquidated in the upcoming
 weeks, the liquidation sales are already underway.  Signs have been hung and
 discounts have been taken on all merchandise in every store.  Store of
 Knowledge is stocked with educational games, puzzles, books, videos, computer
 software, hobby kits and more.  The merchandise spans more than 60 subjects,
 including history, science, the arts, foreign language, and self-improvement.
     "This is an excellent opportunity for parents to purchase educational
 products for their kids at incredible savings" said Cory Lipoff, EVP &
 Principal of Hilco Merchant Resources.
     "The top names in retail have been forced to restructure," said William
 Weinstein, Principal of The Ozer Group.  "With the Store of Knowledge,
 liquidating these stores is a prudent change necessary for long-term success."
     Jim Berk, President of Store of Knowledge said, "While we are sorry to
 have to liquidate the inventory in these stores, we believe that this is a
 necessary step towards successfully reorganizing."
     Based in Needham, Mass., 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.ozergroup.com.
     Based in Chicago, 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.
 
               List of Store of Knowledge Stores That Are Closing
 
     7014 E. Camelback Rd. Ste. 2300         Scottsdale       AZ     85251
     1630 Redwood Hwy.                       Corter Madera    CA     94925
      200 E. Via Rancho Pkwy. Ste. 341       Escondido        CA     92025
     1156 Glendale Galleria                  Glendale         CA     91210
     2700 Crown Valley Parkway
     sp#820                                  Mission Viejo    CA     92691
     5040 Montclair Plaza Lane               Montclair        CA     91763
       29 Newport Ctr. Drive                 Newport Beach    CA     92660
      355 Stanford Shopping Center Bldg.
      M                                      Palo Alto        CA     94304
     1356 Stoneridge Mall Rd.                Pleasanton       CA     94588
      157 Horton Plaza                       San Diego        CA     92101
     7007 Friars Rd. Ste. 820                San Diego        CA     92108
      160 Hillsdale Mall                     San Mateo        CA     94403
 
     2855 Stevens Creek Blvd. Ste. 2321      Santa Clara      CA     95050-6709
      178 Santa Monica                       Santa Monica     CA     90401
      552 West Hillcrest Drive               Thousand Oaks    CA     91360
     1145 Broadway Plaza Sp C-74             Walnut Creek     CA     94596
     6100 Topanga Canyon Blvd. Ste.
      241                                    Woodland Hills   CA     91367
     8900 Pena Blvd. Unit BM-2H              Denver           CO     80249
     3000 First Ave.                         Denver           CO     80206
     8505 Park Meadows Ctr. Dr. Ste.
     2044                                    Littleton        CO     80124
        7 Backus Avenue                      Danbury          CT     6810
     3222 M Street NW, Suite #W-217          Washington       DC     20007
     7981 Citrus Park Town Center Mall       Tampa            FL     33625
     3393 Peachtree Rd. NE                   Atlanta          GA     30326
     3979 Buford Drive  sp#1026              Buford           GA     30519
      845 N. Michigan Ave.                   Chicago          IL     60611
     2046 Northbrook Court                   Northbrook       IL     60062
      100 Oakbrook Ctr. Ste. 79              Oak Brook        IL     60523
      648 Orland Square                      Orland Park      IL     60462
     L101 Woodfield Shopping Ctr.            Schaumburg       IL     60173
      122 Hawthorne Ctr.  Ste. 321           Vernon Hill      IL     60061
       49 W. Maryland St.                    Indianapolis     IN     46204
    11475 W. 95th Street                     Overland Park    KS     66214
    Briarwood Circle Sp. G105                Ann Arbor        MI     48108
    14600 Lakeside Circle Space H-112        Sterling Heights MI     48313
 
     2800 West Big Beaver Rd. Ste. 356       Troy             MI     48084-3201
 
      268 North Garden                       Bloomington      MN     55425-5550
     4705 Broadway                           Kansas City      MO     64112
 
     2178 Saint Louis Galleria               Richmond Heights MO     63117
     4325 Glenwood Ave., Store 114-A         Raleigh          NC     27612
     3320 Silas Creek Pkwy. Ste. 444         Winston-Salem    NC     27103
     1750 Deptford Center Rd.                Deptford         NJ     8096
     Routes 4 & 17 Space 2140                Paramus          NJ     7652
     1200 Morris Turnpike Ste. D-132         Short Hills      NJ     7078
     1091 3th. Avenue                        New York         NY     10021
      153 World Trade Center Mall            New York         NY     10048
     3462 Palisades Center Dr.               West Nyak        NY     10994
     4150 Belden Village Mall Unit C-15      Canton           OH     44718
     7875 Montgomery Rd.                     Cincinnati       OH     45236
     1108 South Park Ctr.                    Strongsville     OH     44136
     12000 SE 82nd St. Ste. 2185             Portland         OR     97266
     9530 S. W. Washington Square Rd.        Portland         OR     97223
      344 Mall Blvd.                         King of Prussia  PA     19406
      124 Monroeville Mall                   Monroeville      PA     15146
      214 South Hills Village                Pittsburgh       PA     15241
      100 Ross Park Mall Drive               Pittsburgh       PA     15237
     13350 N. Dallas Pkwy. Ste.2600          Dallas           TX     75240
     1042 Baybrook Mall                      Friedswood       TX     77546
     4800 S. Hulen St. Ste. 217              Ft. Worth        TX     76132
     1590 Willowbrook Mall                   Houston          TX     77070
     5015 Westheimer, Ste. 3200              Houston          TX     77056
      811 N. Central Expressway Ste.
     1083                                    Plano            TX     75075
    16535 Southwest Fwy. Ste. 569            Sugar Land       TX     77479
     1100 South Hayes St. Space Y02          Arlington        VA     22202
    11741 L Fair Oaks                        Fairfax          VA     22033
     8034 Tysons Corner Center               McLean           VA     22102
      300 Montecello Ave. Sp. 121            Norfolk          VA     23510
      701 Lynnhaven Pkwy. Sp. E5             Virginia Beach   VA     23452
     3000 184th Street S.W. Ste. 250         Lynwood          WA     98037
      600 Pine St. Ste. 405                  Seattle          WA     98101
 
 SOURCE  The Ozer Group