Lacks Begins GOB Sales

November 18, 2010  by in UnCategorized   

By Home Furnishings Business in Bankruptcy on November 19, 2010

Going-out-of-business sales are underway at all 36 Lacks Home Furnishings stores in Texas.

The sales, under authority of a U.S. Bankruptcy court, seek to liquidate $40 million in inventory of furniture, bedding, major appliances, televisions and home accessories.

Liquidation of all inventory and store fixtures for Victoria, Texas-based Lacks Home Furnishings is being managed by a joint venture composed of Hilco Merchant Resources and SB Capital Group.

Northbrook, Ill.-based Hilco Merchant Resources provides a wide range of analytical, advisory, operational, asset monetization and capital investment services to help retailers define and execute strategic initiatives. SB Capital Group, with offices in Great Neck, N.Y., Columbus, Ohio, and Toronto, specializes in asset recovery, rescue finance, restructuring and strategic store closing events.