Home | Business News | Browse by Publication | B | Business Wire

Bill''s Dollar Stores and Bonus Stores to Sell or Close 214 Stores; Huge Liquidation Sales Now Underway.

Article Excerpt
Business Editors

CHICAGO--(BUSINESS WIRE)--Aug. 21, 2003

Store closing sales have started at 214 Bonus Stores and Bill's Dollar Stores following a decision by Bonus Stores Inc. to sell or close part of its store portfolio. The stores being closed are located in Alabama, Arkansas, Florida, Georgia, Kansas, Louisiana, Mississippi, Oklahoma, South Carolina, Tennessee, and Texas. (Note to editors -- a complete list of stores being closed is attached). All other Bill's Dollar Stores and Bonus Stores will remain open to conduct business as usual. Over $35 million of inventory, furniture, fixtures and equipment is being liquidated.

The United States Bankruptcy Court in Delaware approved Bonus Stores, Inc. selection of Northbrook, Illinois-based Hilco Merchant Resources LLC to conduct the store closing sale at the 214 stores. Hilco Real Estate LLC, also based in Northbrook, Illinois, has been retained to assist in disposition of real estate commitments.

Bonus Stores and Bill's Dollar Stores - know as extreme value retailers -- have traditionally offered everyday deep discount prices on basic consumer items. Staple items for the home and family are now available at outstanding savings. Traditionally low prices have been further reduced on such items as household cleaning supplies, health and beauty aids, housewares, clothing, shoes and food items. Extraordinary values are available on all back-to-school items. Supplies are limited.

A. R. Williams, Chief Financial Officer of Bonus Stores, stated: "I want to thank all of our staff for their hard work over the years. Their contributions are recognized and appreciated."

Michael Keefe, President of Hilco Merchant Resources LLC stated: "We are extremely pleased to have been selected to participate in this important project. Hilco Merchant Resources has tremendous expertise that will help achieve maximum results for Bonus Stores. They have always had low prices. Now, with the store closing event, values will be exceptional."

Hilco Real Estate LLC will assist Bonus Stores, Inc. in...