VDC Canada has grown to be one of the largest Canadian Liquidators that specializes in inventory acquisitions from many retailers, manufacturers, and distributors.
Wholesale Liquidation of many inventories can be purchased for Online Retailers, e Bay stores, Amazon stores, Shopify stores and Discount Liquidation brick and mortar stores.
The trustee handles the liquidation and determines which creditors are paid first.
The last step in the effort to repay debt in bankruptcy is usually to liquidate everything.
Here's how liquidation works in the case of bankruptcy.
Individuals To file Chapter 7, the debtor files a petition with the local bankruptcy court.
Public companies must also file a form 8-K with the SEC to notify shareholders of the bankruptcy proceedings.
We own 100% of our inventory and do not act as brokers.
There have also been quite a few bright spots: Walmart finally hit the gas in its competition with Amazon, e-commerce pure plays began investing in brick and mortar and new technology began to go mainstream (yes, we're talking about Amazon's Alexa).
Retailers are coming off the best holiday season since 2011.
If all the debtor's assets are tax-exempt or subject to liens, there may not be any assets to liquidate and hence no money to distribute to creditors.
If there are assets to liquidate, however, the creditors usually file a written claim so they can receive some of the proceeds.