Tuesday, April 14, 2009


Its been a long time since my last post. I have yet to write about what I do. I liquidate FF&E at locations that are closing due to bankruptcy, downsizing, or moving. I enjoy this work except for the job loss factor. I like to sell items so that others can capitalize on the pricing instead of purchasing new at super retail. Most of what we sell is in very good order.

Lucky for me I have had work assignments with no travel requirement. I consult for Hilco Fixed Asset Solutions LLC and have had the pleasure of working on many nearby assignments including: Linens & Things, Rag Shops, National Wholesale Liquidators, Pep Boys, and most recently the largest music store in the world; Virgin Mega Store in Times Square, NYC.

I just completed Virgin last week. Virgin was for me the most challenging assignment in the liquidation business yet. New York is tough for a liquidation, Times Square makes it tougher and the landlord, Vornado was the toughest icing on this cake. 1540 Broadway (home to Virgin Mega Store) is a very desirable piece of real estate and since 911, Vornado has not allowed truck access to its loading dock. When I was in my first meeting on the site, I heard that there would be no way to gain the cherished access that I felt was needed to complete the job within the time frame allowed. "We must be out by April 15 and you will never be able to bring a truck inside the building", was heard over and over again.

I met the general manager of the store, Gavin and the operations manager, Fred. Both were certain that there would be "no way to get the loading dock access needed". There were 2 freight elevators. One was available only to the land lord's contractor while the other was shared by everyone else in the building. Just another hurdle.

The items sold in this FF&E (Fixture, Furniture and Equipment) liquidation included the complete DJ booth, theater and decorative lighting, store use CD and DVD players, many plasma displays, a bit of recording star memorabilia and retail store fixtures of very fine quality.

To make a long and excruciating story short, we did get the access needed after the merchandise liquidation was over and the store closed to the retail public on April 31. We were then directed to be out on the 8th of April. OK, we could do that. Then it was April 7th. Well we did that. Had a great walk through with the landlord's representative. The walk through was his new high bar and all his future walk throughs would be compared to this one.

Now, you might say I am between Virgins as I will soon be at the Union Square location due to start by the end of April. I learned a lot from this one, primarily; set the goals, stay focused and don't let anyone's opinion discourage me. This job was an excellent example of how visualization works. Just as I saw the job from the beginning is the way it turned out. Wow!

See you at the Virgin Mega Store Union Square liquidation soon.