Latest news with #IanFredericks
Yahoo
09-05-2025
- Business
- Yahoo
The True Cost of Tariffs
Talk about tariffs has been filling newspapers, websites, airwaves, boardrooms, factory floors and dinner tables for a while, but reality is just starting to sink in now. What are the true costs of tariffs, and who is going to be paying for them? [To listen to the podcast, ] More from WWD Louis Vuitton Has Bumped Up Handbag Prices in the U.S. Winnie Harlow Highlights the Connection Between Fashion and Motorsport Culture With eBay The Gentlewoman Fetes 1995 Zine Launch at Bicester Village While many brands and retailers have already decoupled at least part of their supply chains from China after the last round of tariffs, they're finding that other countries aren't such safe havens either. With current tariffs on Chinese imports standing at a whopping 145 percent, and universal tariffs on most countries at 10 percent, rising prices seem to be an inevitability. Some of those additional costs will be absorbed by the brand, some will be renegotiated with suppliers and some will be passed along to the consumer. The exact ratios will vary by company and even product on a case basis, but one truth remains: the impacts will be hardest on small businesses. Here, Ian Fredericks, president and CEO of Hilco Consumer-Retail, chats with Lauren Parker, director, Fairchild Studio, about how tariff worries — real and perceived — are affecting shopping behavior, inventory and pricing, and how the industry can best prepare. 'What I'm really focused on [with clients] is maximizing liquidity,' Fredericks said. 'You know, your working capital borrowing facility to be able to weather this storm. And that's requiring some very nuanced discussions, especially where clients have a borrowing-based formula where they borrow based on how much inventory they have, or how much in credit card receivables or other receivables they may have. I want to help them understand how different decisions that they might make — whether it's around raising prices, discounting, bringing in inventory — how the tariffs are going to impact their cost of goods, what the impact is going to be on their gross margin percentage, and then what's the impact going to be on their cost factor.' [To listen to the podcast, ]
Yahoo
06-02-2025
- Business
- Yahoo
Bargain Hunt files for bankruptcy and launches closing-down sale
American discount store chain Bargain Hunt has launched a going-out-of-business sale at its 92 outlets across ten US states following its Chapter 11 bankruptcy filing on 3 February 2025. The retailer, which offers diverse products including sports and outdoor equipment, electronics, apparel and home goods, reported assets between $10m to $50m against liabilities estimated between $50m and $100, as reported by Bloomberg. Bargain Hunt had been working with Riveron Consulting to navigate its financial difficulties. Bloomberg initially reported the potential bankruptcy in late January 2024. Bargain Hunt has initiated a going-out-of-business sale managed by Hilco Consumer – Retail in partnership with Gordon Brothers. The retailer is offering up to 40% discount storewide at all locations before the closure, expected by the end of February 2025. The clearance includes apparel, shoes, toys, automotive supplies and home décor. Store fixtures and equipment are also available for purchase. The discounts are exclusive to in-store transactions. Returns for items bought before this date will be accepted until 12 February 2025, adhering to the company's return policy. Hilco Consumer – Retail CEO Ian Fredericks said: "Stores are stocked, and new merchandise continues to arrive at deeply discounted prices. We recommend shopping immediately for the best selection as this sale won't last long." "Bargain Hunt files for bankruptcy and launches closing-down sale " was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
USA Today
06-02-2025
- Business
- USA Today
Bargain Hunt is closing all locations after bankruptcy filing, going-out-of-business sale
Bargain Hunt is closing all locations after bankruptcy filing, going-out-of-business sale Bargain Hunt's parent company, Essex Technology Group, officially filed for Chapter 11 bankruptcy on Monday. Bargain Hunt announced the launch of a "massive going-out-of-business sale" following the discount store chain's bankruptcy filing this week. The sale will be held at all 92 Bargain Hunt locations across 10 states (Alabama, Arkansas, Georgia, Indianapolis, Kentucky, Mississippi, North Carolina, Ohio, South Carolina and Tennessee), according to the retailer, which is based in Nashville, Tennessee. Hilco Consumer - Retail, in a joint venture with Boston-headquartered Gold Brothers, will manage the going-out-of-business sale. "Everything in stores is on sale and must be sold meaning significant discounts on Bargain Hunt's already low everyday prices are being offered on the store's full assortment of inventory," the discount store chain said. Bargain Hunt's parent company, Essex Technology Group, officially filed for Chapter 11 bankruptcy on Monday, according to a voluntary petition filed in the Middle District of Tennessee. USA TODAY contacted Essex Technology Group's attorneys on Thursday but has not received a response. When will Bargain Hunt stores close for good? All stores are expected to close by the end of February, Bargain Hunt said. Customers will be able to save up to 40% off the lowest ticketed prices storewide, such as apparel and shoes for men and women, toys, lawn and garden items, automotive supplies, pet essentials and home décor, according to the retailer. "Stores are stocked, and new merchandise continues to arrive at deeply discounted prices," Ian Fredericks, CEO of Hilco Consumer – Retail, said in a news release. "We recommend shopping immediately for the best selection as this sale won't last long." Bargain Hunt's going-out-of-business sale is a limited-time event, and "once the inventory is gone, it's gone for good," the company said, adding that "shoppers should act fast to grab the best deals before doors close forever!" Which Big Lots stores will stay open? These 200 likely locations are on a list Breakdown of Bargain Hunt going-out-of-business sale Up to 40% Off the lowest ticketed prices across the store. Discounts valid in stores only. All sales are final on purchases made on or after January 30, 2025. Returns can be done for purchases made before January 30, 2025, only until February 12, 2025 Gift cards will be accepted through February 12, 2025. Store fixtures and equipment are also being sold. Jonathan Limehouse covers breaking and trending news for USA TODAY. Reach him at JLimehouse@
