Nov. 1, 2018 By Christian Murray
National Wholesale Liquidators is closing its Long Island City store in a move that comes just two weeks after the company filed for Chapter 11 bankruptcy protection.
The West Hempstead, New York-based company put up signage today announcing the closure of it 35-00 48th Street store, along with steep product discounts inside.
The store is located on a strip that has seen the closure of Toys R Us this year, with Danice also in the process of winding down.
National Liquidators is likely to close all of it 10 stores in the northeast, including one at 71-01 Kissena Blvd. in Flushing, citing liquidity issues.
“We’re working on trying to save the company,” said Phil DeGorter, National Wholesale Liquidators’ director of loss prevention and human resources. He said the company is looking to find a buyer that can rescue some of its stores.
The company has filed notice with the state that said 58 employees will lose their jobs when the 48th Street store closes, while 60 employees will be left jobless if their Flushing location shutters.
DeGorter, however, said it was too soon to say whether the Flushing location will shut down. “We’ll know in a couple of days,” he said.
Discount retailer National Wholesale Liquidators built its business capitalizing on retail bankruptcies, closeouts and opportunistic buys of unsold merchandise, which it then offered to shoppers at deep discounts.
The company once had a large presence across the Northeast and part of the Midwest.