I love this thread.
So Sam Ash has been having a liquidation sale. But they are only offering 10% off the regular prices. Bankruptcy usually works like this. The Lawyers get all the money, Suppliers usually only get money for stuff they ship after it sells. Or 180 days same as cash. Suppliers get screwed. Banks who usually loan out money to the stores and are caught holding the bag for bounced checks get nothing. Landlords get nothing. The last bit if any left over goes back to the big wigs who have already cashed out their golden parachutes.
After liquidation by store sales everything must go goes into auction by lot. If you are an online dealer or a former exec you can make big bucks buying the stuff before it hits the dumpster.
I've worked for a few places that have gone through the entire process. One of the former top brass did exactly that. He waited till the auction bought various items at deep deep discounts and sold them to resale shops for a killing.
So Sam Ash has been having a liquidation sale. But they are only offering 10% off the regular prices. Bankruptcy usually works like this. The Lawyers get all the money, Suppliers usually only get money for stuff they ship after it sells. Or 180 days same as cash. Suppliers get screwed. Banks who usually loan out money to the stores and are caught holding the bag for bounced checks get nothing. Landlords get nothing. The last bit if any left over goes back to the big wigs who have already cashed out their golden parachutes.
After liquidation by store sales everything must go goes into auction by lot. If you are an online dealer or a former exec you can make big bucks buying the stuff before it hits the dumpster.
I've worked for a few places that have gone through the entire process. One of the former top brass did exactly that. He waited till the auction bought various items at deep deep discounts and sold them to resale shops for a killing.
Statistics: Posted by tapper mike — Sun May 26, 2024 6:31 pm