Liquidity Services Expands U.S. Footprint with New Distribution Center to Meet Retail Industry's Need for Sustainable Disposition Solution

Rhea-AI Summary

Liquidity Services (LQDT) has announced the opening of a new 100,000 square-foot warehouse in Hebron, Kentucky, enhancing its capacity to support retail clients in need of sustainable inventory solutions. This expansion aims to help retailers manage high inventory levels amid declining sales while offering buyers access to overstock and returned items through Liquidation.com. The facility will lower transportation costs and provide quicker delivery to the Midwest and Southern regions, addressing challenges posed by recent economic conditions.

Positive

• New 100,000 square-foot warehouse opens in Hebron, Kentucky, increasing capacity for retail clients.
• Facility aims to help retailers with excess inventory and declining sales.
• Lower transportation costs for buyers in the Midwest and Southern regions.
• Access to a wide range of products from major retailers available through Liquidation.com.

Negative

• U.S. retail sales are declining, indicating sector challenges.
• Retailers are facing high inventory levels due to overbuying and decreased demand.
• American businesses are reducing spending, bracing for a recession.

The new 100,000 square-foot warehouse will offer more capacity for retail industry clients and savings for buyers sourcing inventory for growing businesses

HEBRON, Ky., July 12, 2022 /PRNewswire/ -- Liquidity Services (Nasdaq: LQDT), a leading global commerce company powering the circular economy, today announced its U.S. expansion with the opening of a 100,000 square-foot retail distribution center in Hebron, Kentucky - less than 20 minutes from Cincinnati, Ohio. The new facility offers a second life to returned and overstock items from major retailers while extending the life of thousands of items that would otherwise end up in landfills. Buyers can purchase items through Liquidation.com, a leading source for growing businesses acquiring excess merchandise in bulk.

According to recent data, U.S. retail sales are dropping, and retailers are struggling with high retail inventory due to overbuying and decreased demand. In parallel, American businesses are starting to pull back on spending and are bracing for an economic recession.

"We are in a unique position to enable retailers to enhance profitability while reducing waste and for business owners to reliably source inventory at value price points," said Bill Angrick, Liquidity Services chairman and CEO. "Liquidity Services is seeing strong demand in the secondary market. Expanding our footprint near client last-mile delivery centers allows us to service the  growing number of unsold items from retailers with lower transportation and handling costs which benefits buyers, sellers, and the planet."

"Our new location offers benefits to buyers in both the midwest and southern regions, including quicker shipping and lower freight costs," said Jeff Rechtzigel, Vice President of Retail at Liquidity Services. "The new facility's assortment includes an array of products from major retailers - everything from furniture and houseware items like lawn and garden equipment to building tools and home accessories." 

The new facility is located at 1180 Elijah Creek Rd, Hebron, KY 41048. Products will be available in pallet and truckload sizes. Visit Liquidation.com for more information.

About Liquidity Services

Liquidity Services (NASDAQ: LQDT) operates the world's largest B2B e-commerce marketplace platform for surplus assets with over $9 billion of completed transactions to more than 4.8 million qualified buyers worldwide and 15,000 corporate and government sellers. It supports its clients' sustainability efforts by helping them extend the life of assets, prevent unnecessary waste and carbon emissions, and reduce the number of products headed to landfills. For more information, visit LiquidityServices.com.

Press Contact:

Joseph Milholland
Lightspeed PR/M for Liquidity Services, Inc.
Joseph@lightspeedpr.com

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SOURCE Liquidity Services

FAQ

What is the significance of Liquidity Services' new distribution center in Hebron, Kentucky?

The new distribution center expands Liquidity Services' capacity to assist retailers with high inventory and enhances logistics for buyers, offering quicker shipping and lower costs.

How does the opening of the new facility benefit buyers?

The facility allows buyers to source overstock and returned items at value prices, providing quicker shipping and lower transportation costs.

What challenges is the retail sector currently facing that prompted this expansion?

The retail sector is experiencing declining sales, high inventory levels due to overbuying, and a general pullback in business spending.

How can I find products from the new Hebron warehouse?

Products from the Hebron facility can be purchased through Liquidation.com in pallet and truckload sizes.