Gordon Brothers 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 the 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 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.
“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 of Commercial and 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.”
Image courtesy GeekWire/Kurt Schlosser
