SAN DIEGO, Nov. 10, 2010 /PRNewswire/ -- BizAuctions, Inc.
(Pink Sheets: BZCN), a prime provider of commercial eBay and Amazon
liquidation services for excess inventories, overstocks, and
returns, announced today that the Company gave notice to the
landlord to terminate and vacate the Lucky 7's retail space
by November 15, in the Chula Vista
Center.
Delmar Janovec, BizAuctions' CEO,
comments, "Due to the significant progress that has been made in
sales at the Outlet Store since opening on August 17, 2010, with sales approaching
$90,000 through November 6, 2010, management made the decision to
close the Lucky 7's clothing retail space in the Chula Vista
Center. The lease had provisions in the terms whereby Lucky
7's could provide a written notice to vacate after six months
of the execution of the lease.
"Our business model for Lucky 7's has changed due to the
positive progress the Outlet Store has made in sales since opening
in August of this year. The operations of Lucky 7's and its
inventory were moved to the Outlet Store for the next 30 days or
until the new retail location is completed and terms are finalized
for the space located within 10 miles of BizAuctions' current
location at 1510 Corporate Center Drive, Otay Mesa, CA. The new
location is closer to the US-Mexico border crossing on the 805
highway where they see approximately 15,000 potential consumers
crossing on foot and 35,000 crossing by vehicles each day. The new
retail location will allow Lucky 7's the ability to sell an
expanded array of products in the areas of general merchandise,
household items such as appliances, beddings, and electronics,
along with name brand clothing such as Polo, Ralph Lauren, O'Neill, Buffalo and Lucky jeans,
Ed Hardy shirts, PING sports
apparel, and other name brand merchandise. We are hopeful the terms
can be negotiated and finalized so Lucky 7's can take
possession and move into the space by December 10, 2010 to take advantage of the
upcoming busy Holiday Season." (For photos of our current
Outlet Store, please view the attached link at,
http://www.bizauctions.com/outlet/ )
"BizAuctions opened its 1st retail store on May 29, 2009 in the Chula Vista Center in
Chula Vista, CA, next to Macy's,
an anchor store, and PacSun retail stores, under the name of
'Lucky 7's' in order to sell its name brand higher-end
clothing such as Polo, Ralph Lauren,
Buffalo and Lucky jeans, Ed Hardy
shirts, PING sports apparel, and other name brands that bring
higher retail prices at Lucky 7's versus its customary eBay
and Amazon business platforms," noted CEO Janovec.
BizAuctions' clients have included some of the nation's leading
retail names at the forefront of their industries. With a
long-term strategy to provide eBay liquidation services to Fortune
1000 enterprises, BizAuctions is a clear and lucrative solution for
most any business to liquidate excess inventory on eBay and Amazon
platforms.
More information is available at www.BizAuctions.com. Investors
and media can receive a free investor kit for BizAuctions, Inc. by
contacting Investor Relations at investors@BizAuctions.com or (800)
961-3275. A virtual tour of BizAuctions' facilities and flash video
presentation can be viewed at http://www.bizauctions.com/
ABOUT BIZAUCTIONS – ADDRESSING THE $60 BILLION PROBLEM
BizAuctions, Inc. (Pink Sheets: BZCN) is a prime provider of
eBay and Amazon commercial liquidation services for excess
inventory, overstock items, and returns. Our clients have
included some of the Nation's leading retail names at the forefront
of their industries.
BizAuctions addresses the $60
billion excess inventory problem for clients by sending
trucks to pick up pallets of excess inventory, selling the
inventory on eBay and Amazon, and collecting payment.
We provide our clients with a new sales channel to generate
additional revenue on excess inventory, while at the same time
freeing up their valuable storage and retail space.
With a long-term strategy to provide eBay and Amazon liquidation
services to Fortune 1000 enterprises, BizAuctions is a clear and
lucrative solution for most any business to liquidate its excess
inventory.
The Company encourages the public to read the above information
in conjunction with its year-end statement for December 31, 2009, and the quarterly statements
filed in calendar year 2010, and 2009, at www.PinkSheets.com.
The information contained in this press release may include
forward-looking statements. Forward-looking statements usually
contain the words "may," "could," "possibly," "feel," "estimate,"
"anticipate," "believe," "expect," or similar expressions that
involve risks and uncertainties. These risks and uncertainties
include the Company's uncertain profitability, need for significant
capital, uncertainty concerning market acceptance of its services,
competition, limited service facilities, dependence on
technological developments and protection of its intellectual
property. The Company's actual results could differ materially from
those discussed herein.
SOURCE BizAuctions, Inc.