We get a lot of calls from storeowners inquiring about our store-closing and promotional service. Two recent calls haunt me. I can’t get them out of my mind.
One was a man with four ski stores and $3,300,000 in inventory. His question; “Could we liquidate the stores in four weeks and make a profit? Oh, the company was put in Chapter 11 bankruptcy last fall and has just been placed in Chapter 7.”
Why did he wait? Why didn’t he call before the store was put in Chapter 11? Had he called even a few months ago we could have put together a sale plan that might have saved his stores. At worst we could have gotten him out of business debt-free, with a few hundred thousand in the bank, no bankruptcy and a clean credit record.