Time Mazagine / How Liquidators Profit from Circuit City’s Loss
January 22, 2009
As the economy has spiraled down over the last few months, firms have executed a laundry list of liquidations. Liquidators are considered the undertakers of the retail business, charged with giving store a graceful exit from this earth (at 60% off!). And when they tell strangers what they do for a living, it's sometimes hard to do it with great gusto. The wife of Jim Schaye, CEO of Hudson Capital Partners, a major liquidator, didn't want her husband to broadcast his career when they first met. "She thought people would think I'm a vulture," he says with a laugh. According to Schaye, Hudson Capital's revenues increased tenfold in 2008.
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