The securities have “paper” value, but no real monetary value until they are sold and turned back into cash.
But that apparently hasn't happened as all 76 stores of the chain across Canada are set to close in the coming days and weeks.
Gift cards will be honoured at all closing locations.
Internet sites that specialize in surplus material allow you to sell specific items in your excess stock at an amount close to your actual cost.
And selling even part of your excess stock at cost is a lot better than selling the entire batch at 10 cents on the dollar! One distributor lost a customer contract to supply a certain, custom-made product.
Advertise the availability of this material to other suppliers.
Consider placing ads in industry publications listing the products you’re planning to liquidate.
When the contract was canceled, there was a four-month supply of the item on the distributor’s shelf.
And worse, the vendor wouldn’t accept a return of the material.
The stock of this item could be accurately termed “future dead inventory.” Instead of taking the typical non-action of ignoring the situation, one salesman took assertive action.