Essex Technology Group, which does business as closeout retailer Bargain Hunt, has filed for Chapter 11 bankruptcy protection with the United States Bankruptcy Court for the Middle District of Tennessee.
Bargain Hunt is a closeout chain based in Nashville, TN, operating more than 90 stores in 10 states across the South and Midwest. In its bankruptcy filing, Essex reported assets of between $10 million and $50 million and liabilities of between $50 million and $100 million. Top creditors include Amazon, with by far the largest unsecured claim on Essex as listed in the bankruptcy filing, Target and Value City.
The bankruptcy filing stated the company had entered into a consulting agreement with Hilco Merchant Resources to assist in closing sales at Bargain Hunt stores. The filing also noted the company named Ron Hubbard of business advisory firm Riveron Management Services as chief restructuring officer, empowered to explore a going-concern transaction while also proceeding with the Hilco-supervised store closing process.
In September 2024, Essex spun off the Bargain Hunt Auctions business to BIDTA.com, an online auctions and reverse logistics company.
