Liquidity Services, Inc. Establishes Strategic Partnership With ReturnBuy, Inc. For Remarketing of Returns
Liquidation.com
Contact: Carrol Van Stone
Phone: (304) 876-2065
Cell: 703-338-6486
ReturnBuy, Inc
Contact: Mitch Delaplane
Phone: (312) 297-7407
Washington, DC (October 14, 2002) – Liquidity Services, Inc.’s online liquidation service – Liquidation.com, and ReturnBuy, Inc., an e-retailer of returned and excess inventory, today announced their partnership which will enhance ReturnBuy’s existing sales channels and increase Liquidation.com’s access to bulk surplus inventory. This alliance will provide retailers and manufacturers with a quicker solution to sell excess inventories and to improve their balance sheets.
"Returned goods and excess inventories continue to challenge all retailers and manufacturers. ReturnBuy is committed to this issue. Liquidation.com provides us a great vehicle to rapidly sell our client’s surplus in bulk, " said Walt Shill, CEO of ReturnBuy. "This partnership completes a solution that utilizes technology-based processing and smart reselling of merchandise on behalf of our clients."
Liquidation.com and ReturnBuy will leverage the efficiencies of online auctions, expertise in remarketing excess inventory, and their respective leading edge technologies to manage and sell excess inventory. Together, the companies provide clients a one-stop shop solution for bulk surplus goods and a cost effective way to maximize returns.
"This partnership reinforces the fact that our online bulk liquidation channel is critical to offering complete asset disposition services to Fortune 1000 manufacturers, distributors and retailers," said Bill Angrick, Chairman and CEO of Liquidity Services, Inc. "The efficiency we provide for bulk liquidation of excess inventory is a perfect complement to ReturnBuy’s comprehensive suite of technology-based services to capture the maximum value for all returns."
About Liquidity Services, Inc.
Liquidity Services, Inc. and its subsidiaries enable government agencies, businesses and financial institutions to convert surplus and idle assets into cash quickly and conveniently. The Company manages two business units: Liquidation.com (www.liquidation.com), a provider of asset recovery services for businesses and the public sector, and Government Liquidation, LLC (www.govliquidation.com), the exclusive partner of the US Department of Defense for the sale of all usable U.S. military surplus. The privately held company is based in Washington D.C. with offices in Paris, France. It employs 200 people. http://www.liquidityservicesinc.com.
About ReturnBuy
ReturnBuy, Inc. utilizes web-based technology solutions incorporated into proven logistics systems to optimize both the processing and resale of returned and excess inventory. ReturnBuy returns more revenue to clients by moving static inventory through complementary channels while offering consumers great deals on virtually new merchandise. The company completed two rounds of funding from several prominent investors including ePlanet Ventures, Draper Atlantic, eBay and a team of leading technology investors that previously funded Intel, Apple and Hotmail. Currently, ReturnBuy serves over 20 clients, including leading retailers, distributors and manufacturers. ReturnBuy is headquartered in Ashburn, Virginia, and operates nationally through its 250,000 square foot facility in South Carolina. For more information visit www.ReturnBuy.com/business.
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