Based in Greenville, South Carolina, WYNIT was a consumer electronics distributor serving a wide range of national retailers, e-tailers and independent resellers.
In August of 2017, WYNIT filed for Chapter 11 bankruptcy and commenced a process for selling its assets.
WYNIT needed outside capital and was seeking a partner to assume inventory and A/R.
Hilco Receivables, LLC along with Hilco’s retail inventory disposition unit, Hilco Merchant Resources, served as the stalking horse throughout the sale process.
Hilco ultimately delivered $40 Million at closing to purchase $60 Million dollars of A/R and $50 million in retail inventory.
Moving forward, Hilco Merchant Resources will sell all the Wynit inventory and Hilco Receivables, LLC will collect the accounts receivable.
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Jay Stone is one of the foremost experts in the Accounts Receivable industry. Jay's visionary leadership, operational experience and analytical expertise result in exceptional performance for his customers over the years. Jay is an innovator delivering new ideas and strategies that can consistently deliver results for your business superior to your competition.