Sofas & More To Close All California Stores

Business Wire, August 20, 2003

Business Editors

SAN FRANCISCO--(BUSINESS WIRE)--Aug. 20, 2003

Store closing sales have just started at all Top Furniture Company, Inc. stores. These stores have operated under the trade name of Sofas & More, Top Furniture and Woodworks Furniture. Top Furniture was the largest independently owned furniture chain in Northern California. This family owned business has been in operation for over 50 years.

Top Furniture selected Hilco Merchant Resources to conduct the sale at all locations. The selection was approved by The United States Bankruptcy Court for the Northern District of California.

Over $3 million of inventory will be liquidated during the sale period. Liquidated will be all sofas, sectionals, chairs, tables, beds, leather furniture recliners and much more.

Currently, signs are being hung in the stores and deep discounts are being taken on all merchandise in these closing stores. Consumers will be able to take advantage of substantial discounts on all the inventory.

Anton Caracciolo, Executive Vice President of Hilco Merchant Resources stated, "We are extremely pleased to have been selected to participate in this important project. Hilco Merchant Resources has been a strategic partner to many fine firms in the furniture industry that have restructured or changed directions."

"I urge customers to come in now for the best selection. Such brands as Benchcraft, Palliser, Rowe, Berkline and Guildcraft are now on sale."

Based in Northbrook, IL, Hilco Merchant Resources provides high yield strategic retail inventory liquidation and store closing services. Over the years, Hilco principals have disposed of assets valued in excess of $30 billion. Hilco Merchant Resources is part of the Hilco Organization, a provider of asset valuation, acquisition, disposition and financing to an international marketplace through eight specialized business units. Hilco serves retailers, manufacturers, wholesalers, distributors and importers, direct and through their financial institutions and consulting professionals. Services include: retail store, warehouse and factory closings, and inventory liquidations, through sales and auctions; asset appraisals covering retail and industrial inventory, machinery, equipment, accounts receivables and real estate; disposition of commercial and industrial real estate and leaseholds; purchase and liquidation of distressed accounts receivables portfolios; acquisition and re-marketing of excess wholesale consumer goods inventories; and secured debt and equity financing. The Hilco organization, headquartered in Chicago, has offices in Boston; New York; Los Angeles; Miami; Atlanta; Flagstaff; Detroit; and London, England. For more information please visit our web site: www.hilcotrading.com.

The Store Closing Sale Is Being Conducted at These Locations:

19875 Stevens Creek Blvd. Cupertino CA

1030 Blossom Hill Rd. San Jose CA

1150 Concord Ave. Concord CA

1450 Fitzgerald Dr. Pinole CA