Shop Talk

Retailers, consumers and prices

Everything you ever wanted to know about liquidation sales

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USA/By Dhanya Skariachan

Ever walked out of an out-of-business sale hoping to return when the discount gets even deeper? Ever found your much-desired bargain-priced pair of shoes or television set already snapped up by an early bird?

With so many U.S. retailers going out of business and many having liquidation sales (Circuit City, Goody’s and Linens ‘n Things are three recent examples) savvy consumers should prepare in advance to get a good deal amid all the chaos.

So, what do we do? Check out ShopSmart’s five quick tips to make the best out of liquidation sales.

Always check prices at local stores before buying something at a liquidation sale. Sometimes, they slash prices to tackle threats from their rivals that have gone kaput. Plus, it doesn’t hurt to do business with a store that might be around for a while, does it?

Check Out Line: Get ready for another going-out-of-business sale

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gott1Check out the latest liquidation sale in the retail world.

U.S. regional department store chain Gottschalks will be liquidated after it failed to attract a buyer willing to operate the company as a going concern, the creditors’ committee said.  Going-out-of-business sales at the company’s 58 department stores and three specialty apparel stores in six western states are expected to begin around April 3.

A joint venture of liquidators won the auction for the assets of the Fresno, California-based chain, which filed for bankruptcy protection in January.  The auction is subject to bankruptcy court approval.

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