GLW Consulting

Superstore	The leading superstore company in its category maintains fiscal health through strategic closing of underperforming stores. GLW Consulting has managed several projects for the international retailer, maximizing asset recovery beyond the client's expectations. A key strategy during the sale periods is continuing the company's long standing tradition of strong customer loyalty and high employee morale. GLW Consulting provided the leadership for the store closing process, allowing the company to focus on its immense ongoing operations.

High End Department Store	A Canadian department store chain ended their historic chapter in Canadian retail history in a highly publicized closing of the entire chain. Intense media coverage created a sense of national tragedy as the country mourned the loss of the retail institution, even as the chain struggled to stay alive. Assuming accountability for a 250,000 square foot retail department store and a 50,000 square foot apparel clearance center, the project was successfully managed, overcoming difficult public relations and employee morale situations, closely controlling payroll and maximizing recovery. Eight weeks into the venture, the location was sold to an international department store chain and a smooth, profitable transition from closing to ongoing operations was executed, acting as a liaison between the client, the new owner and the joint venture group.

Urban Apparel	During a Chapter 11 liquidation, a national retailer sold 155 locations to an acquisition group. Several months later the new group failed to meet financial objectives and the 155 urban wear stores closed in a seven week period. Extreme employee morale issues complicated the process during the peak holiday sales season. The situation was resolved through effective communication and execution of the venture's objectives, and the results translated into assuming control of additional locations with troubled closings. Managing sites throughout the western states and Hawaii, the project closed with maximum recovery of inventory and fixture goals.

Catalog Retailer	While operating under Chapter 11 bankruptcy protection a major national big box retailer repositioned itself as a smaller, self-service retailer. It exited low margin categories such as consumer electronics, sporting goods, indoor furniture and toys, with a joint venture group assuming control of liquidating the merchandise. A key element of the venture was maintaining ongoing categories and customer loyalty for the continued operations. Complicating the project were store remodels during the liquidation that relocated exiting category merchandise to less than ideal locations. Managing eighteen stores in an area running from New Orleans through St. Louis, effective communication and time management, as well as close expense control were essential. Utilizing effective merchandising, profitable merchandise transfers, timely communication and execution of joint venture initiatives, and well planned early closings, the successful venture achieved the objectives of profitably liquidating the exit categories and maintaining customer service standards.

Furniture	A national furniture retailer restructured operations during Chapter 11 proceedings, closing 300 stores, while maintaining operations in 500 stores. This assignment was in the Northern California market, and the stores performed exceptionally well. Because of the sales success, the Northern California stores received continuous truckloads of product from under performing stores throughout the United States, as well as augmented product purchased by the lead joint venture partner. An experienced management team in the client's stores provided superior customer service and successfully implemented an instant credit program during the liquidation. Employee turnover was minimal during the three month project, and merchandising standards were superbly executed, even with a revolving door of transferred and augmented product. What can only be described as an eclectic product selection in the client's inventory (watches, jewelry, audio/video tapes, toys, lawnmowers and bicycles as well as the expected furniture and home accessories) challenged the profitability of the venture, and the fullest recovery available was achieved.

Discount Department Store	A 105 store regional department store chain filed for Chapter 11 bankruptcy protection resulting in the closure of all retail locations and distribution centers. The start of the liquidation was during the peak holiday selling season. Compounding the usual store closing issues was a payroll reduction prior to the start of the selling season that placed the store merchandising in a nearly unshoppable condition. Recovery standards were non-existent, with more product laying on the floor than on the shelves. The stock rooms were packed with product not on display. Controlling one of the most difficult urban locations in the chain, quick action was required to secure the inventory from further damage and improve the morale of the union employees. Analysis of payroll expenditures and scheduling revealed efficiencies that rapidly restored the 100,000 square foot store to a well merchandised condition with all merchandise on the sales floor. Consistent, quality communication with the employee teams improved the attitudes of the associates and provided enhanced customer service. Sales exploded and the environment for customers and employees provided a positive experience during the liquidation. The joint venture's sales and profit goals were achieved through effective management of the inventory sell down and sensitivity to the needs of the employees and customers.

Housewares	A national house wares retailer restructured the company as the economy slowed. One-third of the stores were closed over a twelve week period. The assignment included a lack of experienced managers in place and a culture of ineffective training of new associates. Store standards were weak in most locations, and customer service suffered from poor morale. The situation was resolved by quickly closing the worst location and transferring the product to avoid lost sales and inventory shrink. Hands on training and setting the baseline standards in the remaining locations improved morale, customer service and each store's appearance. Sales grew over 160% beyond the previous year, while maintaining low discounts and exceptional profits. Despite the high degree of difficulty in the company's admittedly worst retail market, the venture successfully concluded beyond the client's expectations.

Apparel and Shoes	As part of its Chapter 11 bankruptcy proceedings, a national retailer closed three of its operating divisions consisting of men's apparel, women's apparel and adult shoe stores. Initially assigned to six stores in Las Vegas, the assignment quickly grew to twenty stores throughout the western United States and Hawaii. Accountability expanded to troubleshooting for areas outside of the primary assignment, while managing the closing of assigned locations. The twelve week project was successfully completed with maximum financial recovery through inventory and fixture liquidation, payroll control and minimal shrink.