Saturday, April 02, 2011 Posted by Real Estate Snatch
TABI has filed a Notice of Intention to Make a Proposal pursuant to the Bankruptcy and Insolvency Act and Farber Financial Group was appointed as Proposal Trustee and Receiver to assist the Company in this process.
Consumers will find terrific savings starting at 20% to 40% off original prices on all apparel including all women's classic shirts, sweaters and cardigans, TABI's Wilson pant, skirts, denim, activewear and accessories. In addition, store fixtures such as apparel racks, shelving, cabinets and more are also for sale.
"As a way of expressing our appreciation for their years of patronage, we hope that our customers take advantage of our timeless garments at incredible prices," said the company spokesperson of TABI. "We thank our customers and hope that the savings found at all stores serve as a thank you to them for their great loyalty over the years."
A joint venture consisting of Hilco Merchant Resources and Gordon Brothers Group are running the store closing sales on TABI's behalf.
"Within TABI's signature blue doors, customers will find new spring arrivals of quality merchandise such as Canada's Favourite Cotton Sweater and the Wilson pant," Jeff Paronto, Chief Operating Officer of Hilco Merchant Resources and Lee Cote, Principal of Gordon Brothers Group jointly stated. "Merchandise will sell out quickly so we encourage customers to shop early when the broadest selection of merchandise is available."
Look for the Blue Door at the 76 TABI locations across Canada or visit the website www.tabi.ca for a nearby location.
About Hilco Merchant Resources
Based in Northbrook, IL, Hilco Merchant Resources (www.hilcomerchantresources.com) provides high-yield analytical, operational, asset monetization, capital investment and advisory services to help retailers define and execute their strategic initiatives.
Activities fall into seven principal categories: acquisition or disposition of duplicative or 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; loss prevention; and, monetization of furniture, fixtures and equipment.
Over the years, Hilco principals have disposed of assets valued in excess of $150 billion. Hilco Merchant Resources is part of the Hilco organization, a provider of asset valuation, acquisition, disposition and advisory services to an international marketplace through twenty specialized business units.
Also headquartered in Northbrook, IL, Hilco maintains offices in major business centers throughout North America and Europe. For more information please visit: (www.hilcotrading.com).
About Gordon Brothers Group
Founded in 1903, Gordon Brothers Group (www.gordonbrothers.com) is a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial and real estate sectors. Gordon Brothers Group maximizes value for both healthy and distressed companies by purchasing or selling all categories of assets, appraising assets, providing debt financing, making private equity investments, and operating businesses for extended periods. Gordon Brothers Group conducts over $50 billion in transactions and appraisals annually.
ABOUT FARBER FINANCIAL GROUP
Farber Financial Group (www.farberfinancial.com) provides specialty financial services for rescuing, refinancing and rebuilding businesses, including: corporate insolvency and restructuring, forensic accounting, fraud investigations, distressed financial advisory services, corporate finance, mergers & acquisitions, business strategy & valuations, turnarounds, CFO interim management and opportunity assessments. Farber is based in Toronto, Canada and is internationally a member of BGT Global Network.