West Hempstead, NY – National Wholesale Liquidators Inc., a family-owned discount retailer, sought bankruptcy protection from creditors without giving a reason.
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The company, based in West Hempstead, New York listed assets and debt of $100 million to $500 million each in Chapter 11 documents filed yesterday in U.S. Bankruptcy Court in Wilmington, Delaware. Sixty-two affiliates also filed, according to court documents.
The company, founded in 1984, carries more than 120,000 items including brand-name closeouts. Its more than 50 stores are located in suburban shopping plazas in 10 states including New York, New Jersey and Pennsylvania. The retailer forgoes “fancy” store fixtures to keep prices low.
The 20 largest creditors without collateral backing their claims are owed a total of $12.9 million, court papers show. The largest unsecured creditors include New York-based Haier America Trading LLC, with a claim of $2.4 million; White Rose Grocery, based in Carteret, New Jersey, with a claim of $1.2 million; and American Color Graphics Inc., based in Atlanta, with a claim of $1.1 million.
Company officials didn’t immediately respond to a voice- mail message seeking comment.
What a pitty. Hope they’ll keep the stores open, they always have great deals on top of their already great prices.
I want to thank the BUYER who refused to buy from me . Hashem saved me over 2 million dollars by you refusing my merchandise….
I’ll guess they’ll have to liquidate
so the rich people now get to feel like the rest of us.
im sure the owners arent starving tonight.
they own my company $45,000 thats meens i will loose it
They are jewish owners with frum children. Boruch hashem i stopped doing business with them years ago. Very difficult to deal with.
The bigger they are, the harder they fall.
its owned by frum people i know the family -really nice people
Where will I buy my chinese junk now?
They approached my booth at a recent trade show in Las Vegas, and I was ready to sell to them my merchandise when a frum person came over to me and told me that they are about to go bankrupt and have not paid their bills in months, he told me “do not sell to them on credit” I followed his advise and would like to thank him publicly, he saved me, but unfortunatly most of their creditors are yiden, who are bound to lose Millions.
If they had more cashiers and ones that knew what they were doing, they may have done better. I’ve walked out of their stores rather than wait on long slow lines.
I expect that many other businesses will experience problems after December 25th.
If they declare bankruptcy, they’ll be ok. It’s the creditors who will lose. So don’t feel so bad for the owners.
There is bankruptcy after bankruptcy. Part of it may be because the retail market is saturated it couldn’t take so much.
this is all the biggies do, put the small vendors out of business then they go bankrupt.
From a customer’s point of view.
Their cashiers were very unfriendly and not interested in working efficiently.
The stores did not look at all organized and forget about anyone in the store being of any help. I only shopped their if I was desperate for an item that others did not have.
It seems that the owner were too arrogant to care about customer service.
Well this stinks… Personally I don’t like schlock stores, but they serve a purpose for those watching their wallet.
Another shlocky out of date store bites the dust. The old – get lots of cheap junk and fill up a warehouse- store days are over. When I would go the their stores in Queens, and Baltimore it was always a bad shopping experience. Nasty Kusheem cashiers. Either way I’m sure the owners and the kinder have lots of gelt to survive.
Whew!!! They’re not frum. That means that they are something less than human. And I was worried
one think about this store is . that every think was real cheap stuff
they supported the charedi yeshivos
i used to shop in their new utrecht ave store, never electronics because it was junk, but for papergoods,detergents,houseware stuff was pretty cheap priced, they never had enough employees, cashiers etc, and some achmeds and punjabees were quite nasty to customers, on new utrecht they had one nice employee that heimisher manager, he was always on top of things and quite helpful, to other employees it felt like talking to a wall.
for the owners, i hear they are big baalei tzedakka, and do support many worthy organizations, so hashem bless them with parnasah b’revach and they sure will repay their debts, especially to mishelanus
I always thought they were owned by arabs or Indians. those are the only people I ever saw working there
They have some stuff very cheap, that I was not able to find elsewhere for anywhere near their prices.
Hatzlacha Rabbah to all.
anyone who sold to them in the last 6 months is crazy . the rumors of theyre impending bankruptcy were all olver , they have been bouncing checks for a while. still a shame they seemed like nice people even if they never payed their bills on time.