When Totes Isotoner made the decision to wind down their under-performing retail channel, they looked to Gordon Brothers to provide a global, multi-asset disposition solution. The transaction provided a guaranteed return on inventory, furniture, fixtures and equipment as well as capped the exposure on the company’s lease termination costs.
We were able to facilitate 34 early lease terminations while simultaneously implementing a plan to clear those stores of inventory through a series of clearance events. The project was conducted over 120 days and included short term renewals at reduced rents in order to maximize the results of the inventory liquidation.
Over this time, we successfully disposed of the outlet store lease portfolio for our client, allowing them to save substantially on lease exit costs. The solutions provided by Gordon Brothers allowed Totes to focus on its go-forward strategy and grow its wholesale business, without the distraction of the under-performing retail aspects of its business.