Coast Appliances Begins Liquidation Sales Across Canada

Coast Appliances has started its going out of business sale at all 17 Canadian locations and online.

Asset management and disposition firm Hilco Global is managing the sales following Coast Appliances’ filing for creditor protection and subsequent court approval to commence liquidation of the business.

“This is an exceptional opportunity for consumers and trade professionals to purchase premium appliances, including rarely discounted luxury brands like Wolf, Sub-Zero, Thermador and more, at meaningful savings with manufacturers’ warranties intact,” said Hilco in a news release.

Discounts range from 10 to 30 per cent off, with additional bundle and save opportunities on small and major appliances for a limited time. Deeper discounts are applied to scratch and dent and open box appliances. Sales of select store fixtures, furnishings and equipment will begin soon. All sales are final.

On April 17, the Supreme Court of British Columbia granted the national home and kitchen appliance retailer an initial order under the Creditors Arrangement Act that allowed it to continue business operations while it attempted to reorganize or find a buyer, instead of having to immediately declare bankruptcy.

In business since 1978, the Vancouver-headquartered chain had been underperforming for a “sustained period of time,” according to court documents. Like many big-ticket retail categories, the company has been significantly affected by the slowdown in residential construction and housing activity, which drove much of its revenue.