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
