Gordon Brothers, the global asset experts, has been engaged to sell by private treaty over $85 million of inventory and the assets of two 775,000-square-foot fulfillment centers on behalf of Zulily ABC LLC.
The U.S.-based online retailer specialized in the sale of better-branded apparel and home products. Its parent Zulily Group LLC recently decided to shutter its operations. To facilitate this process, Zulily entered an Assignment for the Benefit of Creditors in December to complete the orderly wind-down of the business and maximize the recovery for its creditors.
The inventory available for sale includes nationally branded consumer products, including apparel, footwear, small appliances, beauty and housewares. The available fixed assets include material handling equipment, racking and other warehouse support machinery.
“This is a great opportunity to acquire a wide selection of well-known nationally branded fashion and home products inventory,” said Ulos Anderson, Senior Managing Director, Commercial & Industrial at Gordon Brothers. “As global market leaders with a 120-year history working with consumer product companies and retailers, we have been trusted in difficult situations to provide customized and rapid solutions that maximize asset value for our clients.”
“Zulily’s decision to shut down operations was not entered into lightly, and we’re confident our partnership will maximize value for all parties,” said Michael Guelfo, Managing Director, Commercial & Industrial at Gordon Brothers. “As a market leader in industrial fixed asset trading, our best-in-class infrastructure and deep asset knowledge made us the natural choice for the sale.”
For more information on the sale of Zulily’s assets, visit Gordon Brothers’ website.
Gordon Brothers leverages decades of experience buying, selling, operating and valuing assets in the industrial economy across Australia, Brazil, Canada, the U.K. and Europe, Japan and the U.S.
About Gordon Brothers
Since 1903, Gordon Brothers (www.gordonbrothers.com) has helped lenders, management teams, advisors and investors move forward through change. The firm brings a powerful combination of expertise and capital to clients, developing customized solutions on an integrated or standalone basis across four services areas: valuations, dispositions, financing and investment. Whether to fuel growth or facilitate strategic consolidation, Gordon Brothers partners with companies in the retail, commercial and industrial sectors to provide maximum liquidity, put assets to their highest and best use and mitigate liabilities. The firm conducts more than $100 billion worth of dispositions and appraisals annually and provides both short- and long-term capital to clients undergoing transformation. Gordon Brothers lends against and invests in brands, real estate, inventory, receivables, machinery, equipment and other assets, both together and individually, to provide clients liquidity solutions beyond its market-leading disposition and appraisal services. The firm is headquartered in Boston, with over 30 offices across five continents.