Liquid Asset Partners Forms JV for Retail Liquidation

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Grand Rapids-based asset liquidation company Liquid Asset Partners LLC has formed a joint venture with a Chicago-area company to focus on retail inventory and store closing liquidations.

Liquid Asset Partners has partnered with Rolling Meadows, Illinois HyperAMS LLC providing retail clients with asset disposal solutions aimed at offering greater flexibility and lower cost than currently available channels. The partners named the joint venture HyperLiquid.

The formation of the joint venture follows the two companies’ informal partnership on projects over the past decade.

“This is a really exciting opportunity for retailers, advisers and lawyers to have another option for their big projects,” Bill Melvin, CEO of Liquid Asset Partners, said in a statement.

“Both companies have a track record of success. The new HyperLiquid will provide a scalable team capable of managing projects of any size at a lower cost. Both groups have managed and advised projects with over 100 stores and the combined experience and capabilities increase that. In this case, putting two good things together can lead to better results.

Melvin is also CEO of Buell Motorcycle Co., an iconic superbike brand that he resuscitated and established in Grand Rapids. Through Liquid Asset Partners, he acquired the assets of Erik Buell Racing LLC in 2016 for $ 2 million.

HyperLiquid will accumulate 50 years of combined experience between the two companies.

“We understand that what matters most to our customers is the money we generate for them and the quality of the service we provide,” said Tom Pabst, President of HyperAMS. “We believe that in many situations our ability to provide cost structures that are more flexible and less costly than most of the large retail service companies in the industry can produce better net payback for these customers. Ultimately, this is a better outcome for all stakeholders.

The HyperLiquid joint venture comes as retailers face an uncertain future given the effects of the COVID-19 pandemic on physical stores. To that end, 40% of retail CFOs said their companies plan to reassess their real estate footprint this year, based on a biannual retail bankruptcy outlook. BDO United States srl released in March. The accounting firm predicted a slowdown in the pace of bankruptcies and store closings in 2021 compared to 2020, which saw the highest number of retailer bankruptcies since the 2009 recession.

“The initial impact of the coronavirus pandemic accelerated trends that had negatively affected the industry for several years, resulting in a large number of bankruptcies. As a result, the most struggling retailers have already undergone restructuring. However, a recovering economy and an evolving industry will certainly cause more and more retailers to struggle, resulting in a slower but constant rate of filing and store closings, ”according to the report.


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