REAL ESTATE

Regional home-improvement/furnishings chain liquidating

BY Marianne Wilson

Home Owners Bargain Outlet is going out of business.

The chain, which filed for Chapter 11 bankruptcy protection on October 26, 2018, is closing its seven stores (five in the Chicago area and two in Wisconsin). Joint venture partners Tiger Group, Great American Group (a subsidiary of B. Riley Financial) and HyperAMS are liquidating HOBO’s entire inventory of about 1.5 million items (valued at more than $23 million) in ongoing sales at all HOBO stores.

“The home improvement business has always been incredibly competitive,” said Tiger Group COO Michael McGrail. “In addition to the top two big-box chains with their tremendous economies of scale and dominant real estate positions, the advanced e-commerce efforts of these players, Amazon and others clearly have created huge challenges for smaller operators like HOBO.”

The sales includes flooring, housewares, furniture, bath products, appliances, electronics, hardware, tools, home decorations lawn/garden items, along with furniture and bedding.

Store locations are as follows:

Chicagoland:
2650 Belvidere Road, Waukegan
8716 S. Cicero Avenue, Oak Lawn
300 W. North Avenue, Villa Park
1693 S. Plainfield Road, Crest Hill
7630 W. Roosevelt Rd, Forest Park

Wisconsin:
800 S. 108th Street, West Allis
3545 S. 27th Street, Milwaukee

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