Client: Large Syndicated Bank Group
Challenge: Maximize Inventory Proceeds by Managing 20-Location Liquidation in Slow Season during Housing Crisis
AccuVal, together with sister company LiquiTec, liquidated a $50 million inventory of one of America's largest independent flooring distributors. The inventory included ceramic tile, hardwood, carpet, vinyl, finishes, accessories, and tools at more than 20 locations in the United States. Maximizing recovery meant seamless execution while simultaneously vacating certain facilities quickly to avoid very high occupancy and labor costs. Adding to the challenge of the liquidation sale was its timing during slow season in one of the worst housing markets in industry history.
First, LiquiTec hired over 100 employees considered critical to the success of the sale while strategically closing facilities to consolidate inventory and eliminate costs. Next, all remaining operating costs were analyzed so overhead could be further reduced. While these steps were being executed, a fully integrated marketing campaign was launched concurrently to motivate qualified buyers from throughout North America to make large purchases quickly.
Gross receipts were within a few percentage points of expectations while disposition costs were substantially reduced, thereby maximizing the net amount recovered.
The ability to maximize recovery in large, complicated dispositions. Quick action to contain crises and costs. Broad knowledge to attract the right buyers to a sale and close transactions. Capacity to manage hundreds of people in multiple locations effectively. That's The AccuVal AdVantage™ at work.