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Commercial Loan Officer Syndi Schlindwein of Los Alamos National Bank was the lead supervisor and coordinator for a G.A.Wright Store Closing Sale at a bank owned retail tile and flooring store in Albuquerque, New Mexico. The owner decided to walk away from two store locations, hand over the keys and a large unsold inventory to the bank. Since the store had been closed for over two months before the bank took over, Syndi knew it was going to be a challenge to get the sale up and running and reach out to the community and old customers. Syndi had been doing research looking for companies who had experience in selling large inventories for the highest possible price. Ultimately, she decided to use G.A. Wright to conduct her liquidation sale and was very happy with the result.
The Store Closing Sale
One of the factors in Syndi realizing that they would need help with the Bank Owned Store Closing Sale was the fact that the quantity of inventory was more than the bank had ever worked with and they needed to move the inventory quickly. G.A.Wright Sales was retained to conduct a liquidation sale. The first step was consolidation of inventory from two stores into one warehouse. It took over twenty-seven 45-foot trailers to haul the entire inventory. The G.A.Wright consultant then worked with Syndi and bank employees to set up the store. This was almost like starting a new business. Once the inventory was in the warehouse it was packed from floor to ceiling. Opening day of the sale customer traffic was heavy all day with lines out the door. Sales were large and momentum was consistent throughout the sale. Once the 13-week sale had ended all inventory including fixtures had been sold!
Comments by owner
“We sold out to the bare walls, merchandise, fixtures and equipment. I have no doubt that this was due to our G.A. Wright consultant’s expertise in a liquidation sale.”
We needed someone that could come in and take complete control of running a total liquidation sale with minimum onsite supervision from us. I looked at every available option, ultimately deciding to hire G.A. Wright because they specialize in total liquidation sales, selling the entire inventory for the highest possible return.”