Sale in 23 New Jersey General Merchandise Stores to Begin Saturday
Drug Fair Group, Inc. ("Drug Fair”), which operates pharmacies and general merchandise stores under the Drug Fair and Cost Cutters names, today announced that it will conduct a court-ordered bankruptcy liquidation sale in 23 stores. The sale, which will begin on Saturday, March 21, 2009, will be managed by Hudson Capital Partners, LLC.
Inventory valued at approximately $30 million will be completely liquidated at below market prices. Customers will find tremendous savings on everything in the store including household products, health/beauty supplies, cosmetics, party supplies, toys, vitamins, snacks, greeting cards, and much more. (For store locations, please see attached list.)
“We would like to express our appreciation to all of the Drug Fair and Cost Cutters employees for their considerable time and effort in helping to build this respected regional chain,” said A.R. Williams, Chief Financial Officer of Hudson Capital Partners. “For more than 50 years, customers have looked to Drug Fair and Cost Cutters for their everyday basic needs, delivered with quality service at a great value. The liquidation sale will provide customers a final opportunity to get all their household needs at even greater discounts.”
Drug Fair has been operating under Chapter 11 of the Bankruptcy Code since March 18, 2009 (U.S. Bankruptcy Court, District of Delaware, Case #09-10897 (BLS)).
About Drug Fair Group, Inc.
Drug Fair, operates pharmacies and general merchandise stores in northern and central New Jersey. Founded in 1954, the Company has two divisions: Drug Fair and Cost Cutters. The Drug Fair division includes stores which sell both pharmaceuticals and general merchandise and the Cost Cutters division which are larger format stores that offer value-oriented, general merchandise. For more information, please visit www.drugfair.com or www.costcuttersonline.com.
About Hudson Capital Partners, LLC
Hudson Capital Partners, LLC offers an extensive array of professional solutions to the challenges retailers face today, including management of excess, obsolete and discontinued inventory, changing geographic and demographic circumstances, unproductive store sites, and real estate and liquidity issues. The firm’s diversified staff is experienced at performing strategic store closings and relocations, fixed asset dispositions, wholesale inventory buyouts and lease mitigations. To learn more about Hudson Capital Partners, please visit www.hudsoncpl.com.
Store List: Drug Fair (DF) and Cost Cutters (CC) locations to hold liquidation sale:
Berkeley Heights (DF)
W Long Branch (CC)
Toms River (CC)
North Arlington (DF)
Morris Plains (DF)
East Rutherford (DF)
Berns Communications Group, LLC
Melissa Jaffin, 212-994-4660