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Closeout (sale) A closeout or clearance sale ( closing down sale in the United Kingdom [1]) is a discount sale of inventory either by retail or wholesale. It may be that a product is not selling well, or that the retailer is closing because of relocation, a fire (a fire sale ), over-ordering, or especially because of bankruptcy. [2]
Revenue. US$515.76 million (2021)[3] Number of employees. 11,241[4] (2024) Website. www.ollies.us. Ollie's Bargain Outlet Holdings, Inc., commonly referred to as Ollie's Bargain Outletis an American chain of discount closeout retailers. It was founded in Mechanicsburg, Pennsylvania, in 1982 by Morton Bernstein and Mark L. Butler with backing ...
Loehmann's. Loehmann's was an American retail company which started as a single store in Brooklyn, New York and grew to a chain of off-price department stores in the United States. The chain was best known for its "Back Room", where women interested in fashion could find designer clothes at prices lower than in department stores.
Liquidation stores, which are also often referred to as bin stores, are a great way to get up to 90% off of certain merchandise. Major retailers also consistently have regular liquidation sales.
Liquidation sales started in early 2017 for the 120 mostly U.S.-based stores owned by high-end women's clothing line BCBG, which filed for bankruptcy at the same time.
Just for Feet – bankrupt in 1999, acquired by Footstar, final stores closed in 2004. MC Sports – filed for bankruptcy and closed in 2017. Modell's Sporting Goods – first store opened in 1889. On March 11, 2020, the company filed for bankruptcy, and announced it would close all 115 stores.
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