Store Closing Sales Commence at 4 Levitz Furniture Stores

Business Wire, Oct 11, 2000

Business Editors

CHICAGO--(BUSINESS WIRE)--Oct. 11, 2000

A joint venture composed of Hilco and Professional Sales & Consulting Company were recently appointed as agent by the US Bankruptcy Court in Delaware to liquidate the inventory in four Levitz Furniture Stores. The four stores are located in Massachusetts and New Hampshire.

Store Closing Sales will start at the four stores tomorrow.

"We are extremely pleased to have been selected by Levitz," said Michael Keefe, Chief Executive Officer of Hilco Merchant Resources, "our group comprises the foremost specialists in retail liquidation and furniture liquidation in particular. This combination of firms has afforded a very high recovery to Levitz and will also provide the retail consumer excellent deals."

"Hilco has assisted us before and performed well," said Michael McCreery, Senior Vice President of Levitz Furniture Corporation "these store closings will assist Levitz as we finalize our reorganization plans."

Hilco Merchant Resources and its affiliates provide strategic financial services for retailers, distributors, manufacturers, lenders, venture capitalists, investment bankers and the professionals that serve them. For more than 25 years, Hilco has sold more than $15 billion of retail inventories in over 500 major liquidations involving 5,000 locations. To learn more about Hilco Merchant Resources a unit of Hilco Trading, visit www.hilcotrading.com.

                           Levitz Furniture
                          Store Closing List

Street Address                      City              State

Liberty Tree Mall                   Danvers           MA
160 Providence Highway              Dedham            MA
260 Turnpike Road                   Westborough       MA
168 Daniel Webster Hwy              Nashua            NH