"It was an opportunity too good to pass-up," says Jeff Hecktman, Hilco Chairman and CEO.
Libraries need books and books need bookcases. On the heels of a donation of books to Chicago Public Schools ("CPS"), Northbrook-based Hilco Trading, LLC, today announced it has donated 520 bookcases to the nation's third largest public school system. The bookcases, estimated to have a retail value approaching $170,000 if purchased new, were acquired from closing Borders Books Stores around the Chicago metropolitan area.
In August, 2011, Hilco spearheaded and coordinated the donation of nearly 140,000 academic quality books, many purchased by Hilco from Borders stores around Chicagoland and other U.S. locations. "The idea to donate the bookcases made all the sense in the world," said Hilco Chairman and CEO, Jeffrey B. Hecktman. "As the Borders store closing sale was nearing an end, I was told there were many fine quality wooden bookcases still available. We decided to purchase and donate them to CPS. It was an opportunity too good to pass up," he added.
A call was made to CPS by Hilco and in less than 48 hours CPS personnel were visiting Borders stores around Chicagoland, where they inspected the inventory of 5-, 6-, 7- and 8-shelf wall- and island-style bookcases. They selected and tagged those they wanted and immediately began moving them out.
"The removal and transporting logistics were excellent, said Pat Taylor, Chief Operating Officer for the Chicago Public Schools. "Everything went very smoothly thanks to the helpful people at Borders, store landlords and Hilco. Now, we are working to get these bookcases into the schools that need them the most."
About Hilco
Headquartered in Northbrook, Illinois (USA), Hilco is a privately-held, diversified financial and operational services firm whose principal competency is understanding and maximizing the value of business assets, including retail, consumer and industrial inventory, machinery and equipment, real estate, accounts receivable, intellectual property and going-concern enterprises. Through an integrated platform of more than 20 business units in North America, Europe, South America and several countries in the Asia-Pacific region, Hilco helps companies and their professional advisors derive the maximum value for said assets through appraisals, asset disposition and acquisition services, private equity investment and consulting services. Hilco serves retailers, wholesalers, distributors, manufacturers, directly and through their lenders, investors and advisors, including private equity firms, hedge funds, investment banks, law firms, turnaround professionals, accounting professionals, bankruptcy trustees and receivers.
Contacts:
Hilco Trading, LLC
Richard L. Kaye
Executive Vice
President
847-418-2711
rkaye@hilcotrading.com