A retailer in London is negotiating to sell his business and his query was: “What would you do with the stock if the buyer wants empty premises?”
His business is a CTN.
There are a number of avenues here. You could, of course, have an ‘everything must go’ sale. But it’s a sad way out.
I also know of companies (no names, no pack drill, but they are big names) who have ‘swagged’ off unwanted stock because of re-labelling issues, for instance; in other words they have done deals with market traders.
Or you could search online where you will never be turned down, no matter how bizarre your request for information.
Thus I found a company called Virrgo (www.virrgo.co.uk) which buys all manner of stock - food and drink included - from businesses wanting to get rid of excess stock for whatever reason. They are in Grimsby, but have offices in London and Doncaster.
Its website claims that Virrgo is one of the largest buyers of excess inventory and bankrupt stock in the UK.
And it says: “It really doesn’t matter what it is or where you are - Virrgo residual inventory buyers will buy it and pay in advance. You might be a small shop having cash flow problems, and need to sell off some surplus stock. Or you could be a major wholesaler seeking to get rid of seasonal stock to make way for the next season’s products. The size of the deal doesn’t matter, Virrgo has sufficient funding in place to buy anything and everything.”