What is Inventory liquidation?
Liquidation- it’s a scary word for most business owners. It brings to mind images of failure; of loss and of your efforts going down the drain. Of course, that couldn’t be further from the truth, especially when it comes to inventory liquidation.
Every year, millions of businesses across America make use of inventory liquidation to free up space, make money and move into the next stage of their business, but what exactly is inventory liquidation?
Inventory liquidation – The Basics
Put at its most simple, inventory liquidation is the process of getting rid of and converting your old, unwanted or unsold inventory and other assets into cash. Whether you’re a multi store chain a neighbourhood store, small bussiness or large business stock or inventory liquidation is a commonplace practice within the business world.
Why would you liquidate your stock?
There are countless reasons why you might think it time to liquidate your stock. It might be that you’ve had a large order from a customer cancelled, saddling you with the stock. It could be because your business is expanding and you need the cash, or maybe your business has become bankrupt and you need to pay off your creditors or you ordered the wrong inventory and can not return.
Whatever your reason, inventory liquidation can prove an invaluable tool for your business. Just think about what that money could mean for your business. We’ve helped countless businesses achieve their goals, whether that’s clearing outdated stock, or just keeping the lights on by offloading some costly assets.
How can you liquidate your stock?
If your business is undergoing the process of liquidation, a registered insolvency practitioner will be appointed to your case. Their job is, first and foremost, to find a way to keep your business alive by arranging debt repayment to any creditors you have. Typica lly, this is done by stripping your business of any assets that it might have and turning them into cash for repayment.
That’s where companies like us come in. Once contacted, we work with you or your insolvency practitioner to find the very best price for your inventory, helping to move product quickly and access buyers from across the country. All it takes it a phone call (586.819.9997 or Contact us); we’re here ready to help.