Drug Fair to Hold Going Out of Business Sale
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Sale in 23 New Jersey General Merchandise Stores to Begin Saturday
SOMERSET, N.J.--(Business Wire)--
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)
Rahway (DF)
Bricktown (CC)
Middletown (CC)
Raritan (DF)
Hamilton (CC)
W Long Branch (CC)
Lacey (CC)
Wall (CC)
Cranford (DF)
Oakland (DF)
Hillsborough (CC)
Wayne (CC)
Toms River (CC)
Chatham (DF)
Clifton (DF)
Plainfield (DF)
North Arlington (DF)
Clifton (DF)
Morris Plains (DF)
Bridgewater (DF)
East Rutherford (DF)
Rockaway (DF)
Berns Communications Group, LLC
Melissa Jaffin, 212-994-4660
mjaffin@bcg-pr.com
Copyright Business Wire 2009
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