M.G. Smith, Inc., & Maynards Partner To Hold Bankruptcy Sale For Furniture Direct

Furniture World News

M.G. Smith Inc., one of North America’s premier business & marketing solutions company, as well as Maynards, a pre-eminent liquidation, auction & appraisal company, have joined forces and are holding the Multi-Million dollar bankruptcy sale of Furniture Direct, Home Fashion Market and Stan West Interiors based out of the Waterloo, Cambridge, London, and the Greater Toronto marketplaces in Ontario, Canada. “We are thrilled to partner with Maynard’s for this project and believe it is going to be an extraordinary event,” said Michael Smith, president of M.G. Smith Inc. Between the six locations, it is anticipated that over $12 million dollars of inventory will be liquidated over the next twelve weeks. The sale will launch simultaneously with a 1 day private event on Thursday, July 12 and then launch to the public on Friday, July 13, 2007. Authorized by BDO Dunwoody, Trustees in Bankruptcy, M.G. Smith Inc. and Maynards were awarded the Bankruptcy sale, selected over several other North American companies. Between the two company’s, they have more than 100 years of experience in liquidating business operations. “With our extensive experience in the furniture liquidation industry, combined with Maynards long-history of operating liquidation and auction services, the two combined will make for an incredible operation”, said Smith. The Stan West chain of companies fell upon hard times and in April of 2007, the Home Fashion Market Company declared bankruptcy, forcing all six locations to close. With an expert team of retail professionals, M.G. Smith Inc. offers a unique and innovative service…programs designed for retailers, by retailers. They specialize in high impact and high volume Marketing Campaigns, Remodeling Sales, Going Out of Business Sales, Relocation Sales, Cash Buy-Out Liquidations, Retirement Sales, Conversion Sales, Store Closing Sales, Cash Raising and Business Restructuring Consulting. Maynards specializes in asset conversion of commercial inventories and industrial equipment through a range of services including transportation logistics, sale management, asset tracking, financial reporting, payment and final reconciliation. Working directly with the company or on behalf of a receiver, banker or lawyer in an insolvency or bankruptcy situation, Mayards has the personnel to properly manage the liquidation or auction of a company’s assets.