NSC Wholesale Holdings, LLC d/b/a National Wholesale Liquidators and Certain of Its Affiliates File Voluntary Chapter 11 Petitions
NSC Wholesale Holdings, LLC d/b/a National Wholesale Liquidators and Certain of Its Affiliates File Voluntary Chapter 11 Petitions
HEMPSTEAD, N.Y., Oct. 31, 2018 /PRNewswire-PRWeb/ -- NSC Wholesale Holdings, LLC d/b/a National Wholesale Liquidators and certain of its affiliates (collectively, the "NWL") today announced that it is winding down its operations. As part of this process, NWL will seek to market certain of its assets for sale through a court supervised process and has also entered into an agreement with Hilco Merchant Recourses, LLC and Gordon Brothers Retail Partners, LLC to assist NWL in selling its inventory and fixtures at its store locations. NWL remains hopeful of attracting a purchaser to continue all or a portion of its business as a going concern. To facilitate this process, NWL filed voluntary petitions for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware.
Scott Rosen, President of NWL, said "Undertaking a court approved process is in the best interest of the Company and its stakeholders."
NWL is working closely with its lender. NWL has filed a number of customary motions seeking court authorization to continue to support its business operations during the process, including the continued payment of employee wages, salaries and health benefits without interruption.
Court documents and additional information can be found at a dedicated website administrated by AWI's Claims Agent, Omni Management: http://www.omnimgt.com/nscwholesale. Telephone inquiries can be made at: 888-585-6496.
Saul Ewing Arnstein & Lehr LLP is serving as legal advisors, Mark Samson of Getzler Henrich & Associates LLC was appointed as Chief Restructuring Officer and SSG Advisors, LLC is serving as investment banker to NWL.
About NWL
Founded in 1984, National Wholesale Liquidators (NWL) is a family-owned and operated value retailer headquartered in West Hempstead, New York. For more than 30 years, NWL provides customers a treasure hunt experience by offering name brand merchandise and closeouts at deeply discount prices. A one-stop shop for super savings, NWL offers a broad selection of merchandise including gourmet foods, health and beauty, apparel for the entire family, electronics, home décor, housewares, appliances, furniture, bedding, flooring, cleaning products, pet care, seasonal merchandise and more. Today, NWL operates 11 general merchandise close-out stores throughout New York, New Jersey, Pennsylvania and Massachusetts.
Phil DeGorter
Director Loss Prevention/HR National Wholesale Liquidators
111 Hempstead Turnpike
West Hempstead NY 11552
Office: (516) 489-3300 ext. 1072
Fax: (516) 481-6095 phild(at)shopnwl.com
SOURCE NSC Wholesale Holdings, LLC
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