Boston, Aug. 10, 2018 (GLOBE NEWSWIRE) -- Joint venture partners Gordon Brothers, and Hilco Merchant Resources announced today that they will commence going-out-of-business sales at GUMP’S department store located in San Francisco’s famous Union Square shopping district. Going-out-of-business sales will also include significant discounts on merchandise featured on www.gumps.com and catalog goods.
Gump’s, which dates back to 1861, filed for Chapter 11 bankruptcy protection on August 3rd. The legendary department store features premier luxury gifts, jewelry, apparel, artful objects and home décor. In addition, the company has a direct-to-consumer division, which includes a website and catalog, showcasing everything from exquisite jade and freshwater pearls to the best in cut crystal, tabletop design, and holiday décor.
“Our customers have an opportunity to purchase the high-quality items they have come to expect from Gump’s at the lowest prices ever offered,” said Tony Lopez, Chief Operating Officer, Gump’s. “We hope our loyal customers will all visit the store, website or catalog early for the best selection.”
“Customers are encouraged to shop both the Union Square store, website and catalog for this rare opportunity to purchase top products at liquidation prices,” said a spokesperson from the joint venture. “Due to the well-known name and goodwill of this brand, we encourage consumers to shop early to take advantage of the best selection of products. We expect merchandise to sell very quickly.”
Gift cards and registry credits will be honored until August 31, 2018.
About Gordon Brothers:
Since 1903, Gordon Brothers (www.gordonbrothers.com) has helped lenders, operating executives, advisors, and investors move forward through change. The firm brings a powerful combination of expertise and capital to clients, developing customized solutions on an integrated or standalone basis across four service areas: valuations, dispositions, operations, and investments. Whether to fuel growth or facilitate strategic consolidation, Gordon Brothers partners with companies in the retail, commercial, and industrial sectors to put assets to their highest and best use. Gordon Brothers conducts more than $70 billion worth of dispositions and appraisals annually. Gordon Brothers is headquartered in Boston, with 25 offices across five continents.
About Hilco Merchant Resources
Hilco Merchant Resources (www.hilcomerchantresources.com) 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. Hilco Merchant Resources is part of Northbrook, Illinois based Hilco Global, one of the world’s leading authorities on maximizing the value of business assets by delivering valuation, monetization and advisory solutions to an international marketplace.
Cal Shusta Gordon Brothers cshusta@gordonbrothers.com
