Anchor Blue Closing

After over 30 years as a specialty retailer of casual apparel and accessories for the teenage and young adult markets, Anchor Blue is closing all 117 stores. Store closing sales started on January 7, 2011 and will continue until all merchandise is sold.

“As a way of expressing our appreciation for their years of patronage, we encourage all of our loyal customers to take advantage of the tremendous savings across all locations,” said Tom Shaw, Chief Executive Officer at Anchor Blue Retail Group.

Consumers can find incredible savings on all merchandise including tops, jackets and hoodies, shorts, jeans, pants and crops, dresses, accessories, backpacks and bags, fragrance, jewelry, swimwear, sunglasses, intimates, hats, shoes and belts. Store fixtures such as apparel racks, shelving, lighting, cabinets and more will be sold too.

All Anchor Blue stores will honor gift cards until January 21, 2011. Returns on purchases made before January 7, 2011 with a receipt and in compliance with Anchor Blue’s return and price adjustment policy will be accepted until January 21, 2011. After January 21, 2011, no returns or exchanges will be accepted on any merchandise. All sales made on or after January 7, 2011 are final.

Gordon Brothers Group and Hilco Merchant Resources are collectively running the going-out-of-business sales on Anchor Blue’s behalf.

“Consumers can find great values at every store location. Those who arrive first will be able to choose from the broadest selection of merchandise,” Jeff Paronto, SVP, Chief Operating Officer, Hilco Merchant Resources and Thomas Lonabocker, Principal & Manager Director, Gordon Brothers Group jointly stated. “All merchandise is currently marked down between 40% and 60% off regular retail pricing so we expect it to sell fast. All store fixtures are being sold too.”

Beginning as Miller’s Outpost in 1972, the company changed its name to Anchor Blue in the late 1990s to reflect the fact it marketed, distributed and sold its own line of jeans and other clothing and accessories in its stores.

– – –

Founded in 1903, Gordon Brothers Group is a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial and real estate sectors. Gordon Brothers Group maximizes value for both healthy and distressed companies by purchasing or selling all categories of assets, appraising assets, providing debt financing, making private equity investments, and operating businesses for extended periods. Gordon Brothers Group conducts over $50 billion in transactions and appraisals annually.

Based in Northbrook, Illinois, Hilco Merchant Resources provides high-yield analytical, operational, asset monetization, capital investment and advisory services to help retailers define and execute their strategic initiatives. Activities fall into seven principal categories: acquisition of disposition of duplicative or underperforming stores; retail company or division wind downs, event sales to convert unwanted assets into working capital; facilitation of mergers and acquisitions; interim company, division or store management; loss prevention; and, monetization of furniture, fixtures and equipment.

Over the years, Hilco principals have disposed of assets valued in excess of $150 billion. Hilco Merchant Resources is part of the Hilco organization, a provider of asset valuation, acquisition, disposition and advisory services to an international marketplace through twenty specialized business units. Also headquartered in Northbrook, IL, Hilco maintains offices in major business centers throughout North America and Europe. For more information please visit online.