Discounts Of 60%-Off Retail Now Offered On Arbek Oak Furniture In Going-Out-Of-Business Sale -Buxbaum/Century schedules equipment auction for October 18th
Furniture World Magazine
on
6/9/2004
Price reductions of 60%-off retail are now being offered on solid oak bedroom furniture and home entertainment centers in a going-out-of-business sale at the Arbek Manufacturing plant at 13780 Central Ave. in Chino. Buxbaum/Century Services, which is managing the sale, also announced that it has scheduled an auction of the 200,000-square-foot facility’s machinery and equipment for October 18th.
The company, which was founded in 1982, is shutting its doors following a bank foreclosure. Arbek had sold its oak furniture through over 1,000 retailers nationally, ranging from the Haverty, Wickes and Levitz chains, to independent merchants.
The sale includes all inventory on hand at the Chino facility. Arbek’s inventory, which includes full sets and individual pieces, was valued at $2.5 million (at retail) when the sale began on September 13. At that time, discounts of 40%-off were being offered.
Hours for the sale are 10:00 a.m. to 7:00 p.m., seven days a week. Consumers can pay by cash, Visa or MasterCard. Checks are not accepted.
Buxbaum/Century’s auction of the machinery and equipment will begin at 10:00 a.m. on October 18th, with a preview from 9:00 a.m. to 6:00 p.m. on October 17th. Items being auctioned will range from panel and case goods woodworking machinery to warehouse equipment and office furnishings and equipment.
Calabasas, Calif.-based Buxbaum/Century is a joint venture between Buxbaum Group and Century Services, a leading specialist in industrial equipment appraisals and liquidations, headquartered in Calgary, Alberta. Buxbaum/Century Services was formed in 2000 to provide machinery and equipment appraisal and auction services for financial institutions and corporations throughout North America.
Buxbaum Group, also headquartered in Calabasas, provides inventory appraisals, auctions on both fixed and liquid assets, turnaround and crisis management, as well as other consulting services for banks and other financial institutions with retail, industrial, wholesale/distribution and consumer-product manufacturing clients. The firm also provides liquidation services on an equity or consultative basis for consumer-product inventories, machinery and equipment. Additionally, Buxbaum buys and sells consumer-product inventories on a closeout basis.