After hearing rumblings of struggles at Bargain Hunt for several days and news that the "extreme value" retailer had suddenly shuttered its only distribution center, we have now confirmed that the company has started liquidation sales at all of its 91 stores.
The notice, sent January 23, indicated employment terminations would start Wednesday, January 22, or within 14 days of that date, with additional terminations expected on February 28, continuing through March 14, or within 14 days of those dates. The closure is expected to impact a total of 294 workers at the distribution center.
A report late Friday by Bloomberg Law indicated that the retailer could file for bankruptcy as soon as next week and is working with Riveron Consulting for assistance as it considers a wind down of operations.
On the heels of this news, the company sent emails early Saturday morning to members of its "Crazy Clover Club" loyalty program announcing storewide sales of up to 30 percent off at all stores, with "nothing held back." Calls placed to several of the retailer's Atlanta area stores confirmed the closure news and suggested that March 14 is the final day stores will be open.
The company, originally known as Essex Bargain Hunt, opened its first store in 2004 and currently features a mix of overstock goods from the likes of Target and other big box retailers, as well as "Crazy Bin Sales" that amount to random returned products from Amazon. The company has a presence in ten primarily southeastern states.
Bargain Hunt's typical merchandise put it in competition with stores like Big Lots and Ollie's Bargain Outlet, and to a lesser degree, Burlington and Ross, given their clothing assortment. The addition of the "bin" merchandise was seemingly to compete with stores like Keevado (fka Gimme A $5) and Black Friday Deals, two of the larger Amazon liquidation retailers.
Private equity firm Thomas H. Lee Partners took a controlling stake in the business in 2015. In our opinion, the company lost track of its core strengths and "extreme value" positioning and became just another discount store.
Its liquidation follows that of Channel Control Merchants, a Hattiesburg, Mississippi-based company which last fall filed for bankruptcy and closed all of its roughly 60 stores under the Dirt Cheap and Treasure Hunt banners. Dirt Cheap and Treasure Hunt, like Big Lots, which is actively liquidating all of its stores nationwide, all sourced product from similar vendors.
When we first visited a Bargain Hunt store in Kennesaw in 2014 it was a rather fun experience with the merchandise better than you'd expect and the pricing competitive. Back then, the store operated off a discount model similar to Filene's Basement where price tags were dated, and merchandise became progressively cheaper the longer it sat. The retailer ditched this model several years ago in favor of a simpler - but less compelling - pricing structure similar to typical off-price retailers.
Bargain Hunt previously closed its store in Douglasville near Arbor Place Mall in 2020 but opened a Marietta store just north of The Big Chicken in 2022 followed by the closure of a Kennesaw store in 2024.
There are currently fourteen Bargain Hunt locations in Georgia including stores in Austell, Marietta, Dalton, Gainesville, Fayetteville, Hiram and Newnan.
Here's to hoping that Grocery Outlet, a growing chain of off-price grocery products, continues its east coast expansion and is able to capture some of the upcoming Bargain Hunt vacancies!
Are you surprised to see Bargain Hunt shutting down? What is your favorite off-price retailer? Have you ever been to a Grocery Outlet?
Please share your thoughts below.
You forgot to mention the one in cumming
ReplyDeleteThe Kennesaw store closed in 2024, not 2023. This doesn’t surprise me though. I have a picture on my phone of a regular sized bottle of old spice body wash they were selling for $14 and it says “compare at $24” …it’s $7 at Target.
ReplyDeleteJokes on your homie!
DeleteThis was a surprise oh well back to the drawing board
DeleteI am very surprised and sad that bargain hunt is closing. It was my favorite store to find good deals on all sorts of merchandise. I wished they could somehow stay open.
ReplyDeleteOh man! I found some amazing deals at the bargain hunt in cumming. It was always hit or miss but you could get some good good deals there!
ReplyDeleteThere is also one in Griffin, GA but it should close - it is nothing but a junk pile. Maybe the other ones are nice and neat and organized but not that one.
ReplyDeleteYeah, that's what the one in Austell is like too. The one in Kennesaw that closed down last year had some really good inventory and deals though. Same with Hiram.
Deletesounds like a junk store. It also sounds like if you simply watch for sale prices and clearance prices at the mainstream retailers you’ll actually get a better deal. When they do Marc town at Costco is when there’s only like 34 or five pieces left on the last pallet, the markdowns are pretty significant. I also find that the markdowns for sale prices and separately for clearance at Walmart is very good. The clearance is like browsing through bargain hunt lol
ReplyDeleteI love my Bargain Hunt in Mount Juliet, TN. I typically shoop there 2 to 3 times a week. The store was clean, the employees so friendly, and great deals. I found out about the closing yesterday when I did my typical Saturday shop. Going to miss the store and the awesome employees.
ReplyDeleteGrocery Outlet is awesome!! I hope they open in Marietta and replace the bargain hunt! It would do very well.
ReplyDeleteI don't live by any of these stores so never went. In your article you mentioned a private equity company aquired a large stake in them in 2015. Overtime I'm sure that played a big role in their downfall. Anytime I see private equity mentioned it's probably not going to be a good thing.
ReplyDeleteNeve heard of it.
ReplyDeleteDefinitely will miss the Cumming location. Got lots of holiday stuff and Christmas trees and things over the years at really good prices.
ReplyDeleteGonna miss the Bowling Green KY location. Always found d something. Normally bought allot more than I planned for but if you knew what you were looking at some of the prices were a steal.
ReplyDeleteThere is a Bargain Hunt in Rome also. The last couple of years it has changed a lot and the inventory is organized and easy to find. I go into this store at least once a week and make a purchase. There is always a good many cars in the parking lot shopping there.
ReplyDeleteThe items in the store in my town became a rip off ,it was almost like shopping at roses you might get a pair of pants that fit you for that same day wash it and then it becomes too small but at a whopping 14 dollars for a pair of britches save some money at least for a day on the bright side of things it also had foolish missed place prices on items and the paper hanging would say everything is pink and is so much off but the items on the shelf behind it would have a grey sticker to catch those who doesn’t look at it and get to the counter and it’s double the price due to the sticker and they put it back but hold the line up to the wall this happens every time I would take a chance on a item and purchase it most of the items are bout half broken and full price junk !
ReplyDeleteBargain hunt in Anderson s.c is a nice clean store and got amazing prices and all imployes are nice and the store is set up like the rest of retailers on racks and selves not on pallets hopefully someone will buy them out so they can stay open
ReplyDeleteI worked for this company for nearly 2 decades... before it was even a retail chain. Owner sold out his employees to an investment firm for a huge sum of cash and the firm ran the business into the ground. Good radiance. Sorry to all the peons that lost their jobs.
ReplyDeleteWhen Bargain Hunt first opened it was truly a bargain hunt...ie you could find high end brands/items in their stores at a good price, or if you dared wait for the regular scheduled price drops, you could get a great deal. Sadly that ended when they dropped that price structure and also when they opened too many stores and no longer had the higher end items to sell. They basically became a stagnant version of big lots.
ReplyDeleteI remember when it used to be a game show back in the 70’s and a bunch of lady would scream and go nuts to see what’s in the box and the loser would hear a song with fart sounds in it.
ReplyDelete