News and Events
Wickes Furniture Company retains RCS
RCS Real Estate Advisors Provides Lease Disposition Services to Wickes Furniture Company.
Mar 13, 2008 Press Release
NEW YORK, NY, March 13, 2008 New York, NY based RCS Real Estate Advisors, the pre-eminent real estate advisory firm to the retail industry, along with Hudson Capital Partners, LLC, Crystal Capital Fund L.P. and Julius M. Feinblum Real Estate Inc., has purchased the lease designation rights and will provide disposition services for Wickes Furniture. RCS Real Estate Advisors President and CEO Ivan L. Friedman made the announcement.
Wickes, which filed for Chapter 11 on February 3, 2008, has begun to liquidate their inventory, real estate and other assets. RCS Real Estate Advisors has been selected to manage the real estate disposition project for the retail and distribution center leases, and in that connection will develop and implement a comprehensive marketing plan with a goal of maximizing the value of the Wickes lease portfolio, which will benefit the Chapter 11 estates.
Subject to bankruptcy court approval, an auction for the sale of the 46 Wickes leases located throughout CA, IL, NV, and OR will be held as soon as practical. Both retail stores ranging from 25,000 to 200,000 square feet and distribution centers up to 570,000 square feet will be sold. Bids for these locations are due immediately. For more information, please contact Spence J. Mehl at 212.239.1100 x221 or visit www.rcsrealestate.com.