Great American to Manage Orchard Hardware AuctionsTuesday, July 2, 2013
Great American Group Inc. will handle closing sales at eight Orchard Supply Hardware locations.
The Woodland Hills auction house will handle the closures of Orchard’s outlets in Citrus Heights, Fairfield, Huntington Beach, Lone Tree, Long Beach, Midtown, Newark and Vacaville.
Last month, Lowe’s Cos. Inc. of North Wilkesboro, N.C., agreed to acquire the majority of Orchard’s assets. As part of the purchase, Orchard filed voluntary Chapter 11 bankruptcy.
Scott Carpenter, president of Great American Group's Retail Division, said service at the stores will not be compromised during the sales, though prices will be substantially lower.
“We are offering significant discounts on every item in every department, so consumers will have the opportunity to purchase quality hardware supplies at a discount,” he said in a prepared statement.
Shares of Great American were unchanged at 37 cents in over-the-counter trading.