page_title: Hilco Global
section_title: History
hierarchical_section_title: Hilco Global / History
caption_attribution_description: Bankrupt shop, signes.
context_page_description: Hilco Global is an American financial services holding company. It operates over twenty businesses and specializes in valuation, advisory, monetization, and liquidation. Headquartered in Northbrook, Illinois, it has offices throughout the world and provides services to companies, their lenders and professional services advisers across a broad spectrum of business categories including retail, industrial and financial. Hilco delivers services focused on maximizing the value of under-performing and excess retail, consumer products and industrial inventory, real estate, intellectual property, including consumer brands, and accounts receivable. Hilco is also considered one of the largest distressed investment and advisory companies in the world.
context_section_description: Hilco Global was founded in 1987 by Jeff Hecktman. Originally operating under the name Hilco Trading, the holding company was renamed in 2013, eliminating the use of the name Hilco Trading Company as well as introducing a new logo and website for the company. Hecktman founded Hilco Trading Company after restructuring his family's industrial supply firm and selling off many of the business' under performing assets.
  In 2000, Hilco Global founded a business division named Hilco Merchant Resources LLC, a subsidiary of the company that specializes in retail inventory valuation, retail store closings, retail inventory disposition and asset protection. Michael Keefe, formerly of Gordon Brothers, joined HMR as the CEO the same year. In 2001, the division became known as one of the top five liquidation firms in the United States, having been involved in the $1.8 billion liquidation of Montgomery Ward following that company's bankruptcy. Some of its most notable disposition and liquidation deals included work for Sears, CompUSA, Sportmart, PharMor Rx, and Coldwater Creek. In 2016, the division helped save Aéropostale from final liquidation, eventually allowing the retailer to restructure and reopen over 500 stores. Hilco Merchant Resources also expanded its operations by opening an office in Australia, taking on liquidations of stores that include Fletcher Jones, Dubbo Everyday Living and Dick Smith.    
  Hilco Global founded its real estate business division in 2000 with the formation of Hilco Real Estate, LLC, to be a national provider of accelerated real estate disposition and advisory services. It has acted as agent or principal for numerous real estate acquisitions and sales. It was co-founded by Mitchell Kahn who served as the company's CEO until 2008. Kahn was replaced by Neil Aaronson as CEO and Gregory Apter was promoted to President of the company. Hilco Real Estate was responsible for numerous large transactions in real estate including 1,200 leases for MCI Worldcom that the company either sold or renegotiated. It also closed hundreds of Blockbuster stores following the company's 2010 bankruptcy as well as approximately 200 Borders Book Stores following that company's 2011 bankruptcy. Hilco Real Estate was also involved with the selling of over 165 unused properties owned by Hostess after that company filed for bankruptcy in 2013.
  Hilco Global launched Hilco Capital in 2000 as a partnership with Paul McGowan, who serves as the company's CEO. Based in the United Kingdom, Hilco Capital is involved in retail restructuring and distressed investments. It has expanded internationally with the opening of offices in Ireland, Spain, Germany, Canada, and Australia. Part of its operation includes investing in stressed and defunct companies, most notably is HMV, a music and entertainment retailer associated with the trademark His Master's Voice. After filing for administration, the company has recorded millions in sales and competes against Amazon as one of the leading music and entertainment retailers in the U.K.    
  In 2001 Hilco Global formed a business unit called Hilco Appraisal Services LLC, bundling all of the industrial, retail and real estate appraisal services of the holding company into a single unit. Later renamed Hilco Valuation Services, the company is based in the U.S. and has global offices in the U.K., Canada, Australia, Mexico, South American and Asia. One of this units most notable deals was completed in 2005 with the valuation of 29 locations of over 40 million square feet owned by Delphi Automotive.
  2001 was also the year Hilco Global expanded its holdings with the formation of Hilco Receivables LLC, a division that purchases bad debt and services accounts receivable. By 2004, Hilco Receivables had acquired more than $2 billion in receivables and in 2006 it opened a 200-person collection center that operated under the name Apex Financial, LLC. The company also provides receivable appraisals to lenders as well as financing to companies who acquire receivables portfolios. One of the most notable transactions invol
caption: A Linens 'n Things store notifying customers "Going out of Business."
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