21 Big Party Stores to Close as Big Party Corporation Sells Company.Business Editors CHICAGO & NEEDHAM, Mass.--(BUSINESS WIRE)--Aug. 9, 2000 Hilco Merchant Resources and The Ozer Group announced today that the U.S. Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. has approved an agreement under which The Big Party Corp has been sold to a joint venture group composed of Hilco, Ozer and iParty Corp. Under the terms of the agreement, Hilco Merchant Resources, of Chicago, Ill., and The Ozer Group, of Needham, Mass., will manage the closing of 21 stores. Store closing sales will begin immediately and involve the liquidation The collection of assets belonging to a debtor to be applied to the discharge of his or her outstanding debts. A type of proceeding pursuant to federal Bankruptcy of inventory with an approximate retail value of $10 million. iParty Corp. will assume operation of the remaining 33 Big Party stores. Big Party operates stores that offer a full selection of items required for a successful party, including such things as plates, cutlery cutlery, various types of implements for cutting, preparing, and eating food. In addition to different kinds of knives and the steels to sharpen them, the term usually encompasses forks and spoons. , napkins, tablecloths and party favors. The 21 stores are currently stocked with Adj. 1. stocked with - furnished with more than enough; "rivers well stocked with fish"; "a well-stocked store" stocked furnished, equipped - provided with whatever is necessary for a purpose (as furniture or equipment or authority); "a furnished apartment"; merchandise perfect for birthday parties, dinner parties, Halloween, Thanksgiving Thanksgiving annual U.S. holiday celebrating harvest and yearly blessings; originated with Pilgrims (1621). [Am. Culture: EB, IX: 922] See : America Thanksgiving national holiday with luxurious dinner as chief ritual. [Am. Pop. , Christmas and more. Heavy discounts on all merchandise will be taken immediately at the 21 closing stores. "This is a unique situation with an upside Upside The potential dollar amount by which the market or a stock could rise. Notes: This is basically an educated guess on how high a stock could go in the near future. See also: Bull, Downside for everyone. Not only is the chain being preserved in a leaner, healthier form, but the closing sale at 21 of the stores will provide an excellent opportunity for bargain-conscious consumers to stock up on merchandise for all their entertaining and social events," said Mike Keefe Mike Keefe is an award-winning editorial cartoonist best known for his work at the Denver Post, for whom he has drawn cartoons since 1975. His cartoons are nationally syndicated, and have appeared in hundeds of newspapers as well as in Europe, Asia, and most major U.S. , President of Hilco Merchant Resources. Stephen Miller
Stephen Miller (January 17, 1816 – August 18, 1881) was an American Republican politician. , Principal of The Ozer Group, added, "We're happy to be able to play a role in the iParty/Big Party transaction. A total wind-down of the The Big Party has been avoided and this will save many jobs and keep many stores open that otherwise may have closed." In addition to the inventory liquidation, Hilco Real Estate Services has been engaged to market the leases at the closing stores. Any parties interested in this aspect of the transaction are encouraged to contact Al Lieberman of Hilco at 847-501-6185, ext. 24. Based in Needham, Mass., The Ozer Group is one of the country's leading retail consulting, business evaluation and asset disposition firms. Ozer is quick, flexible and creative in offering solutions to retailers of all sizes throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Europe. In addition to helping companies maximize realization for their assets, Ozer manages human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. issues, real estate relationships and other critical areas that are affected when companies undergo change. Ozer's management and partners are retailers who have managed thousands of stores and billions of dollars in inventory. To learn more about The Ozer Group, visit www.ozergroup.com. Based in Chicago, IL, Hilco Merchant Resources, its parent company, Hilco Trading Co., Inc. and its affiliates provide strategic financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. for retailers, distributors, manufacturers, asset based lenders, venture capitalists Venture Capitalist An investor who provides capital to either start-up ventures or support small companies who wish to expand but do not have access to public funding. Notes: Venture capitalists usually expect higher returns for the additional risks taken. , investment bankers Investment Banker A person representing a financial institution that is in the business of raising capital for corporations and municipalities. Notes: An investment banker may not accept deposits or make commercial loans. and the professionals that serve them. Hilco Trading Co., Inc. has offices across North America with national and international resources, capabilities and experience. For more than 25 years, Hilco Trading Co., Inc., has sold more than $15 billion of retail inventories in over 500 major liquidations involving 5,000 locations. To learn more about Hilco Merchant Resources, visit www.hilcotrading.com.
List of Big Party Stores That Are Closing
Brookside
Shopping Center Bridgeport, CT
100 Danbury, - Newton Road Danbury, CT
Lechmere Plaza 3079 Berlin Turnpike Newington, CT
North Haven, CT
Orange Meadows
Shopping Center 550-560 Boston Port Road Orange, CT
Torrington Plaza 17 South Main Street Torrington, CT
Market Shopping Center 5610 B Concord Pike Wilmington, DE
Cortez Commons
Shopping Center 5630 Cortez Road West Bradenton, FL
Mariner Square
Shopping Center Brooksville, FL
2239 University
Square Mall Tampa, FL
Liberty Tree Mall 100 Independence Way Danvers, MA
RK Center 191-199 Boston Post Road Marlborough, MA
19 Paradise Road Salem, MA
Watertown Mall 550 Arsenal Street Watertown, MA
Village Shoppes
of Salem 290 South Broadway Salem, NH
Crossgates Common Washington Avenue Ext. Albany, NY
801 New Loudon Road Latham, NY
1131 Central Park Avenue Scarsdale, NY
Quaker Plaza Queensbury, NY
Cowesett Corners
Shopping Center 300 Quaker Lane Warwick, RI
Doylestown Pointe
Plaza Shopping
Center 1661 Easton Road Doylestown, PA
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