🠈 Hilco Global 🠊
Hilco Global
Hilco Global is a financial services company based in Northbrook, Illinois that specializes in distressed companies and liquidations.
I noticed that several large merger chains end with the carcass of the company being sold by Hilco; So, I decided to develop this page an end point for such chains.
Corporate Historyw
This section lists references for companies that I encounter in other research. If a merger chain ends with liquidation by Hilco, I will list the entire chain.
- 1987: The company was founded by Jeff Hecktman.
- 2006: Anticipating a huge increase in retail bankruptcies, Goldman Sachs and Cerberus Capital invested in Hilco.
- 2008: Apollo Capital Management sent Linens 'n Things to Hilco for liquidation.
History of Linens 'n Things
Linens 'n Things was a retailer of home goods. They had the domain lnt.com.
- 1975: Eugene Wallace Kalkin had worked as a purchasing developer for Allied Purchasing Company and helped develop Great Eastern Mills and Diana Stores. Daylin Company acquired these firms but went bankrupt.
- 1975: Kalkin bought leases and assets from bankrupt store and started building Linens 'n Things. His stores displayed things in storage cubes.
- 1983: Melville Corporation bought the company which had 55 stores with intent of expanding it nationwide.
- 1989: LNT began developing expanded superstores with more things than linen.
- 1995: Melville changed its name to CVS. They sold all assets but their pharmacy
- 1996: LNT held an IPO.
- 2006: Apollo Global Management acquired the firm for $1.3 billion. The company had 571 stores and 7,300 employees.
- 2008: LNT declared chapter 11 and closed its 120 stores.
- 2008: Hilco liquidated the last store but kept the web site alive for a few years.
- 2014: Hilco acquired and liquidated the Steele’s & Deals, LLC, chaiwn for Stage Stores.
- 2019: Hilco participated in liquidation of Gymboree.
- 2021: Hilco's ReStore division and iMedia acquired Christopher & Banks. iMedia retained the web site and has five stores.
References:
- Investment News: Wall Street Firms Eye Hilco (Drawn 6/23/2018)
- Wikipedia - Hilco (Drawn 6/23/2018)
- Funding Universe - Linens 'n Things (Drawn 6/23/2018)