Coppell, Texas — Alco, the full-line discount store chain, has shut its doors after 113 years.
The big-box retailer served smaller communities overlooked by national and other regional chains, and filed for Chapter 11 bankruptcy protection in October.
“Unfortunately, many of Alco’s small-town customers were disproportionately impacted by the slow economy,” observed Daniel Kane, managing member of Tiger Capital Group, one of three liquidators assigned to conduct fire sales. “These economic factors ultimately led to the difficult decision to liquidate all of Alco’s assets.”
The going-out-of-business sales began today in Alco’s last remaining 198 stores in 23 states. The liquidators are looking to sell off over $260 million of fixtures, equipment and inventory, including CE.
According to liquidator Great American Group, the closures will affect thousands of customers in remote, tertiary markets who relied on the Texas-based chain for daily essentials.