Hilco Merchant Resources announced the promotion of Raymundo Armendariz to the newly created position of Director of Operations – Special Projects.

In this new position, Armendariz will be responsible for oversight of all retail special projects for the nation's leading retail inventory disposition firm. Specifically, he will be responsible for ensuring that Hilco Merchant Resources (HMR) maintains the highest industry standards, flawless execution and exceptional results on all retail special projects including Pop-up Store Programs, Progressive Markdown Programs and Field Due Diligence. In addition, he will support all other ongoing HMR projects.

Michael Keefe – CEO of Hilco Merchant Resources said "We're thrilled to promote Ray to this important position. Ray's extensive retail operations experience, attention to detail, and overall passion to exceed expectations makes him the perfect leader for this new retail special projects assignment."

To date, Armendariz has successfully managed numerous transactions during his tenure at Hilco Merchant Resources including Mothercare (Australia), Radio Shack (Mexico), Lacks Furniture, and Sam Goody-Musicland. Most recently, Ray held the position of Chief Operating Officer for the Steele's & Deals retail brand, an off-price retail concept which HMR acquired from Stage Stores in 2014. Mr. Armendariz has very substantial retail operations experience, including over 12 years of service with Levitz Furniture.

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. The firm's 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; interim company, division or store management teams; loss prevention; and, the monetization of furniture, fixtures and equipment.