Gordon Brothers to sell Zulily inventory, assets
Following the closure of Zulily, asset management firm Gordon Brothers will acquire and sell the specialty apparel retailer’s inventory and assets.
Gordon Brothers has been engaged to sell by private treaty over $85 million of inventory and the assets of two 775,000 sq.-ft. fulfillment centers on behalf of Zulily ABC LLC. The inventory available for sale includes nationally branded consumer products, including apparel, footwear, small appliances, beauty and housewares. The available fixed assets from Zulily fulfillment centers include material handling equipment, racking and other warehouse support machinery.
At the beginning of the year, digitally-native Zulily said that it had entered into an assignment for the benefit of creditors, or ABC, and would cease operations. Serving as an alternative to Chapter 11 bankruptcy, the ABC handed management of Zulily’s liquidation of its assets to Douglas Wilson Companies, a California-based specialized business, workout and real estate services firm.
Zulily initially announced it was going out of business with a notice of a final sale on its homepage on Dec. 11, 2023. The going-out-of-business sale came not long after Qurate Retail Group sold Zulily to Los Angeles-based investment firm Regent for an undisclosed sum in late May 2023.
“This is a great opportunity to acquire a wide selection of well-known nationally branded fashion and home products inventory,” said Ulos Anderson, senior managing director, commercial & industrial at Gordon Brothers. “As global market leaders with a 120-year history working with consumer product companies and retailers, we have been trusted in difficult situations to provide customized and rapid solutions that maximize asset value for our clients.”
Gordon Brothers has decades of experience buying, selling, operating and valuing assets in the industrial economy across Australia, Brazil, Canada, the U.K. and Europe, Japan and the U.S.
“Zulily’s decision to shut down operations was not entered into lightly, and we’re confident our partnership will maximize value for all parties,” said Michael Guelfo, managing director, commercial & industrial at Gordon Brothers. “As a market leader in industrial fixed asset trading, our best-in-class infrastructure and deep asset knowledge made us the natural choice for the sale.”