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Angrick On Excess Inventory

'Clearly, this downturn caused every major retailer to revisit its own business plans.'

By Debra Hazel | Updated on March 16, 2009

One retailer’s unsold or returned items – and even its store fixtures – can become another company’s treasure, as entrepreneurs are rapidly discovering online. In the past year, Washington, DC-based Liquidity Services Inc., an online auction site for excess merchandise, has seen unprecedented growth, and has even launched a new category – selling the fixtures of shuttering stores. Bill Angrick, CEO, spoke with GlobeSt.com about how the resale market benefits the buyers, sellers and even the environment as the ultimate form of recycling.

GlobeSt.com: How old is the business?

Angrick: Liquidity Services Inc. was founded in November 1999. We achieved profitability in fall 2002, and have grown the business through our own free cash flow ever since. We took the company public in February 2006, and since that time have tripled the gross merchandise volume auctioned through our marketplace, tripled operating income, doubled the size of our buyer base, and continued to cement our position as a market leader in handling a segment of the economy we refer to as the reverse supply chain.

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