You don’t have to wait for items to go on clearance in order to get a deal. Here are 13 liquidation stores and sites you can use to take advantage of closeout sales anytime.
According to CBS Insights, there have been 154 retail bankruptcies—including stores as big as Bed, Bath, and Beyond, Party City, and Belk—since 2015, and more are expected. This information alone may not be too compelling, but when you consider that most of these retail stores host closeout sales and steep merchandise discounts as they close, you may find yourself wanting to take advantage of these massive money-saving opportunities.
Fortunately, there are many ways to find and shop these liquidation discounts. Here’s our list of 13 ways to find liquidation stores and closeout sales near you.
What Does It Mean When a Business Liquidates?
When a business liquidates, it means that the company is ceasing its operations and selling off its assets to settle its debts and obligations. Liquidation is typically seen as a last resort when a business is unable to generate enough revenue to cover its expenses, pay off its debts, or sustain its operations.
There are two primary types of business liquidation:
- Voluntary Liquidation: In this scenario, the business owners or shareholders make the decision to close the company voluntarily. This can occur for various reasons, such as financial insolvency, a change in the business's strategic direction, or simply a decision to retire or exit the industry. The assets of the business are sold, and the proceeds are used to pay off creditors, with any remaining funds distributed among the shareholders according to their ownership stakes.
- Involuntary Liquidation: Involuntary liquidation occurs when a business is forced to shut down by external parties, such as creditors or a court order. This usually happens when a company is unable to meet its financial obligations and has outstanding debts that it cannot repay. Creditors may take legal action to recover their debts, which can lead to the sale of the company's assets to satisfy those debts.
What Happens to the Merchandise
When a retail store undergoes liquidation, the fate of its merchandise can vary depending on the circumstances and the method of liquidation being employed.
In most cases, a retail store that is liquidating will hold a "going out of business" or "liquidation" sale. During such sales, the store will discount its merchandise significantly in an effort to sell as much inventory as possible. This benefits both the business and the customers, as the store aims to generate cash to pay off debts, while customers can purchase items at reduced prices.
It's also important to note that the specific approach to liquidating merchandise can depend on various factors, including the type of merchandise, the financial situation of the retailer, contractual agreements with suppliers, and legal requirements.
Either way, the goal of merchandise liquidation is to convert the remaining inventory into cash or other assets that can be used to settle the store's debts and obligations as part of the liquidation process.
13 Easy Ways to Search Liquidation Stores and Closeout Sales
Whether you like to shop discounts and bin stores online or in-store, there’s no shortage of ways to scout liquidation deals. Here are 10 of the best ways to cash in on those closeout sales.
Liquidation Websites
1. Department Store Liquidations
Department Store Liquidations features closeout and liquidation sales from major department retailers like Home Depot, Sears, Macy’s, Target, Amazon, and more. Everything from electronics and furniture to clothing and hardware can be found on this site.
2. Quicklotz
Headquartered in Shelby, North Carolina, Quicklotz is one of the largest online wholesale liquidation and auction websites around. They specifically specialize in selling closeout brand-name merchandise in bulk by the truck and pallet-load, including appliances, tools, baby items, and more. Businesses and buyers that want wholesale items in bulk will catch a good deal with Quicklotz.
3. Liquidation.com
With Liquidation.com, you can also buy bulk discounted items by truck or pallet-load. From retailers like Amazon, Home Depot, and CVS, buyers and small businesses can cash in on merchandise discounts on nearly anything they’re looking for.
4. Discount Wholesalers
Since starting the site over 20 years ago, Discount Wholesalers has become a trusted source for buyers looking for closeout sales and liquidation discounts. To see what they’ve got, simply visit their website and search by specific products, brands, or categories.
5. B-Stock
B-Stock buys its liquidation inventory from thousands of B2B auctions and then makes it available for buyers to cash in on without any markups. With B-Stock, you can shop liquidation stores and sales from hundreds of different product categories.
6. Direct Liquidation
If you’re looking for liquidation discounts from a retailer in your area, Direct Liquidation is a great site to check. This is because major local retailers will often auction their merchandise to a site like Direct Liquidation, and then buyers can take advantage of discounts instantly right through the site or choose to make an offer for even more savings.
Liquidation Stores
7. Bargain Hunt
If you’d rather shop liquidation discounts and bin stores in-person, be sure to use the store locator to find one of the 92 Bargain Hunt stores near you. Plus, if you have one near you, you can stay up-to-date with all the newest deals with their Weekly Ad.
8. Dirt Cheap
Dirt Cheap is another store for finding and shopping awesome retail liquidation markdowns. At Dirt Cheap, buyers can save as much as up to 90% off retail prices, and this is for anything from mattresses to lamps and footwear and more. Simply use the store locator to see if one of their 64 stores is in your area.
9. Ollie’s Bargain Outlet
Ollie’s Bargain Outlet is another great discount retailer of closeout and liquidation merchandise. Unlike the smaller chains, like Bargain Hunt and Dirt Cheap, Ollie’s has 495 different locations, making the likelihood of one being in your area much higher. Simply visit the store locator to find the one closest to you.
10. Big Lots
Big Lots is such a recognizable store, you may not have even known it was a liquidation retailer. With low prices on items such as furniture, home goods, home decor, and more, Big Lots is a familiar option for many looking for sharp discounts.
11. Walmart Liquidation Stores
Walmart liquidation stores, also known as Walmart Liquidation Centers or Walmart Clearance Centers, are outlets where Walmart sells excess merchandise, returned items, and discontinued products at significantly discounted prices. These stores are a part of Walmart's effort to manage excess inventory and recoup losses from returned or unsold items.
12. Target Salvage Stores
Similar to Walmart Liquidation Stores, Target salvage stores are retail stores—like Goodwill and similar salvage shops— that buy any excess Target store merchandise and returned items and sell them at severely discounted prices. There aren’t as many stores that buy Target salvage, but more are popping up each year. Check with your local Goodwill or on Facebook Marketplace to find a local Target salvage retailer near you.
13. Amazon Liquidation Stores
The Amazon Bulk Liquidations Store sells lots and pallets of damaged or returned items in bulk to third-party brokers. These brokers can be online retailers such as those on Facebook Marketplace, Amazon auctions, or physical storefronts such as Walmart liquidation stores or salvage stores like Goodwill.
Other Ways to Save Big
Shopping liquidation stores is one of many great ways to stretch that dollar further. Shopping at some of the cheapest grocery stores and learning how to coupon are some other great ways to maximize your budget.
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