Gordon Brothers Group and Hilco Merchant Resources announced they will begin going-out-of-business sales at Simply Fashion and Dots retail locations nationwide beginning today, May 7th. Gordon Brothers Group and joint venture partner, Hilco Merchant Resources, will oversee the going-out-of-business sales on behalf of Simply Fashion and Dots.
Simply Fashion, a Birmingham-based women’s fashion discount retailer, filed for Chapter 11 protection on April 20, 2015 and on May 6, 2015, Gordon Brothers Group’s Retail Division and Hilco Merchant Resources were awarded the store closing process by the bankruptcy court. Simply Fashion currently operates approximately 243 retail locations under the Simply Fashion and Dots banners. Store closing sales will offer discounts of up to 30% on all merchandise. Store furniture, fixtures, and equipment will also be for sale.
“We anticipate that this will be a short sale due to the outstanding savings and the desirable assortment of fashions and accessories. Consumers are encouraged to shop early while the selection is best,” said a representative of the Joint Venture.
Founded in 1987, and based in Birmingham, Alabama, Simply Fashion is an affordable women’s clothing store chain tailored to urban women. The retail chain also sells accessories, shoes and lingerie. Simply Fashion operates approximately 243 retail stores nationwide.
Founded in 1903, Gordon Brothers Group is a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial and real estate sectors. Gordon Brothers Group maximizes value for both healthy and distressed companies by purchasing or selling all categories of assets, mitigating leases, appraising assets and operating businesses for extended periods. Gordon Brothers Group conducts over $70 billion worth of transactions and appraisals annually.
Hilco Merchant Resources provides a wide range of analytical, advisory, asset monetization, and capital investment services to help define and execute a retailer’s strategic initiatives. Hilco Merchant Resources’ 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.