Gale of the Century
They say it’s an ill wind that blows nobody any good – that’s certainly true from one business’ perspective.
From the series of hurricanes that have ripped through southern United States, Liquidation World, a leading asset recovery firm operating in Canada and the U.S., has reaped a whirlwind of potential profits and plummeted prices for bargain hunters.
Experienced Liquidation World “deal hunters” rush into the disaster area, assess the goods, make valuations, seal the deals and remove the stock, all in a matter of days – only to repeat the exercise when the next hurricane hits. According to the Calgary company’s website, three years ago when Hurricane Floyd hit North Carolina, deal hunters packed up and remove 85 truckloads of merchandise valued at $2.5 million from just one retailer.
“We have had a lot of people down there. As soon as they come back, they have had to turn around and head back down,” says director of marketing, David Moulton.
Bearing in mind the sensitivity of the situation and the need for speed, the buyers have to be on the ball, he adds. “Everything happens very fast. It is tiring, exhausting and a lot of pressure.”
Around 90% of Liquidation World’s finds like re-packaged stock, end-of-lines and over-runs comes from “companies in the normal course of their operations.” And while, disaster merchandise accounts for the remaining 10%, it does get the most notice. Third-quarter figures recently released show the Liquidation World posted sales revenues of almost $140 million.