FactoryDirect To Close, Liquidation Sale Starts Saturday
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FactoryDirect is closing all their locations including the one on Huron Church, with a store wide liquidation sale stating on Saturday, February 17th, 2024. The decision to liquidate follows their court filing of a Notice of Intention to Make a Proposal under the Bankruptcy and Insolvency Act.
A.D. Hennick & Associates Inc. and Danbury Global Ltd. have been appointed to conduct the chain-wide liquidation sale of TV’s, smartphones, tablets, computers, small and major appliances, heaters, air conditioners, toys and so much more.
Since opening their first store almost 30 years ago, FactoryDirect.ca has grown to become one of Canada’s largest privately owned discount retailers, but since COVID-19 the company has experienced declining sales and increased overhead partly due to this high inflationary environment. At one point they grew to 24 stores, several hundred employees and have been a staple brand in Canada for 3 decades.
“This is a unique opportunity for customers to get the top branded products at liquidation prices. Due to the most recent economic conditions, it’s becoming more apparent that businesses are having a difficult time managing operations. FactoryDirect.ca has been a consistent source of incredible deals for a long time and it is such a shame to see this almost 30 year old, Canadian Owned discount retailer with hundreds of employees have to close it’s doors forever” Alex Hennick, President of A.D. Hennick & Associates.
