But for many small business owners, liquidating assets is often the best or perhaps only feasible method of exiting their businesses, especially retail businesses.
The reasons for this are numerous: Your heirs may want nothing to do with a takeover or succession plan.
They may use an overall discount for the store or tailor discounts for each department.
They may insist you re-price your inventory or apply a percentage discount storewide.
And the liquidation sales they conduct may come in several cloaks: Quitting Business Sale, Total Liquidation, Going Out of Business Sale, Retirement Sale, Creditor Sale are just some of the titles associated with these sales.
As with any method of exiting from your business, a liquidation should be approached with professional assistance and some important guidelines.
It is this experience that helps us achieve the best recoveries on liquidation portfolios.
Receivables Control Corporation offers a wide range of customized services to complement our clients' in-house credit and collection efforts.
They know how to apply initial and follow-on discounts, and develop a promotion plan to support the entire sale. Others develop a plan tailored to fit your store; their business plan takes longer and involves a detailed analysis of your store.
There are generally three categories of business that will liquidate assets: Liquidating retail inventory is challenging.
The entire or majority of the owner's lifetime savings may be tied up in the inventory, and converting this inventory to cash is critical to the owner's financial future.
Our decades of experience have taught us the best methods to address and overcome the collection issues that are often present in a liquidation case, i.e.
lack of continuity in our clients’ operations, inability to provide future products, etc.