In May 2000, when the Canadian rights to ESPRIT were purchased by Esprit de Corps International from the Canadian licensee, they looked to PRG and its Warehouse Sale Program to maximize the recovery value on 76,000 units of out of season inventory that formed part of the acquisition.

In a matter of days, PRG developed and implemented a turn key solution for ESPRIT Canada that enabled to them to convert aged, non-performing assets into working capital, freeing up valuable assets to be better utilized in implementing the company’s growth strategy of building a new, vibrant national retail chain.

The recovery rate far exceeded plan, and as a result, when inventories of out-of-season product reached critical levels in the Fall of 2001, Esprit Canada once again looked to PRG to provide its expertise in recovering value. Within 10 days, PRG had organized a Warehouse Sale event, and provided ESPRIT with outstanding recovery rates substantially higher than the highest offers received from both domestic and foreign jobbers.

Due to the disastrous performance of their traditional wholesale clients, Guess Canada had accumulated a large quantity of inventory that was quickly becoming stale and out of fashion. As retailers themselves, Guess Canada had built a solid, national chain of retail and outlet stores, but did not want to place this inventory in store and undermine the integrity of the brand.

After meeting with PRG, Guess Canada agreed that an off site Warehouse Sale, managed by PRG, would provide the optimal solution to the problem by insuring maximum recoveries while allowing key staff to focus on core responsibilities.

Within days, PRG had set up a 20,000 ft Warehouse Sale, selling 80% of the inventory to the public while providing Guess with a profit on the disposition, all within specified timelines and budgets, pumping valuable working capital back into the company.

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