Closeout News For Online Retailers

Finding quality merchandise to resell online is often an uphill battle for online resellers. One category that often goes neglected is closeout merchandise.

Purchase of wholesale closeouts can be an exciting and profitable business venture for anyone with a carefully formulated business plan. However, this merchandise must be bought in large quantities and requires sufficient storage space.

Tuesday Morning Corp.

Home goods retailer Tuesday Morning has filed for Chapter 11 bankruptcy protection due to “exceedingly burdensome debt,” after operating since 1974 and offering brand name home furnishings and gifts at discounted prices. All its stores will close according to a news release from the company.

Dallas-based Hilco Merchant Resources approved of their sale Thursday afternoon at a hearing and will pay over $32 million. Hilco Merchant Resources currently owns 487 store locations spread out among 40 states; of those stores 59 are in Texas alone – this being more than any other state! Stores within Dallas/Fort Worth alone include Arlington, Denton, Euless Farmers Branch Frisco Irving Keller Lewisville McKinney. As soon as next month the closings start.

Tuesday Morning anticipates that by selling its remaining inventory and equipment, a sale will enable it to reopen a smaller store fleet that serves its core and heritage markets. They plan on optimizing existing store footprint while moving toward more efficient cash flow by closing unprofitable stores with lower customer traffic while prioritizing locations with high customer traffic levels.

The company posted an announcement on its Facebook page regarding their closings and thanked customers for their loyalty and support over 49 years, noting they would soon reveal more information regarding its closures.

People responded to this post with great sadness, noting their loss of store merchandise and merchandise selections. While others expressed hope that some stores might remain open due to finding buyers. If interested in purchasing merchandise, visit either their company website or store locations; otherwise fixtures and equipment items marked up 30 percent may also be sold at some locations.

50below

50 Below closed its doors permanently on November 28 after selling its assets to ARI Network Services and Emerald Connect, two retailers operating retail automotive and power sports businesses that operate retail automotive and power sports businesses respectively. Both firms committed to keeping 50 Below’s name and most jobs in Duluth; 6sense provides insight into technologies used by 50below; this tracking information comes directly from LinkedIn profiles or company websites for each employee working there.

Swap Meet Magazine

Swap Meet Magazine is a wholesale product publication designed to bring flea market and swap meet vendors together with closeout and overrun merchandise available from multiple wholesale sources, provide business ideas and statistical data about what’s selling in various markets as well as compare various price lists from these sources. Free copies of this magazine are distributed free at swap meets, flea markets, shopping bazaars, fairs and shows throughout the country. Other retail industry publications such as Footwear News provide insight into fashion trends in footwear retailing while Furniture Today explores furniture retail trends while Deli Business covers deli and foodservice businesses respectively.