Ozer Group Wins Weiner's Asset Disposition Bid

HOUSTON-As 75-year-old Houston discount retailer Weiner’s prepares to close its final 94 stores, Needham, MA-based Ozer Group has been selected to manage the inventory liquidation.

The US Bankruptcy Court in Delaware which is handling the case, has approved Ozer’s selection, which came down Friday. Mark Stein, Ozer’s president, says “while it is sad to see the end of what is truly a piece of Americana, the short-term benefit in this case is really for the consumers. These stores are packed with high-quality merchandise and since these are the final Weiner’s stores, everything in every store must be sold, even if it’s at very steep discounts.” Stein is referring to the fact that the stores had been stocked for the back-to-school retail season before the shutdown decision had been made.

At its peak in 1994, Weiner’s had 158 stores, but had been whittled back to 94 stores in the ensuing years. Weiner’s demise is attributed to long-standing financial troubles, the recent soft retail environment, heavy competition and flood damage from Tropical Storm Allison. The stores sell casual clothing, sportswear, footwear, school uniforms, jewelry and housewares.