Buxbaum Group News - July 17, 2008b

GIGANTIC INVENTORY CLEARANCE SALE MAKES DREAM KITCHENS A REALITY - EVEN FOR TWIN CITIES HOMEOWNERS ON A BUDGET

PLYMOUTH, Minn. (7/17/08) – Hip designers of high-end kitchens have long turned to Guyer’s Builder Supply to find coveted brands like Wolf, Sub-Zero, Viking and TurboChef for their well-heeled clients. Now, thanks to a gigantic clearance sale underway at the company’s 100,000-square-foot. Plymouth warehouse, even homeowners of more modest means can put together the kind of dream kitchens they once salivated over while watching star chefs on The Food Network or HGTV.

Guyer’s is liquidating approximately $3.5 million in excess and showroom inventory as part of a strategic consolidation that involves closing locations in Apple Valley, Minn., Eau Claire, Wisc., and others, said Stevan Buxbaum, executive vice president of Agoura Hills, Calif.-based Buxbaum Group, which is conducting the sale with Stonehill Financial, LLC, the Minnesota-based consulting and financial advisory firm that is the agent for Guyer’s lender.

The Plymouth warehouse, located at 13405 15th Ave. N., is filled with modern, stainless-steel hoods and ranges, state-of-the-art microwave and convection ovens, better cabinetry and more. Shoppers will find discounts of up to 50% on appliances by a designer’s shortlist of brands, including Miele, Bosch, Dacor, Aga and Kitchen Aid. Discounts on cabinetry run as high as 75%. Other, still-in-the-box merchandise is priced at cost, plus 10%, Buxbaum says.

“Demand for high-end kitchens reached its apex during the recent housing boom as luxury homebuilders installed chic new kitchens, and homeowners, often flush with refinancing cash, sought to upgrade out-of-date kitchens from the 1970s and ’80s,” explained Buxbaum, who is based in the firm’s Minneapolis office. “During the housing run-up, in fact, the average cost of a typical kitchen renovation exceeded well over $75,000 in major markets.” On a more local level, a consequence of the housing collapse was that builders failed to pay Guyer’s for several million dollars of appliances delivered to builders and their customers.

The Plymouth warehouse is open from 9 a.m. to 8 p.m. on Wednesdays and from 9 a.m. to 5 p.m. on all other weekdays. It is open from 10 a.m. to 4 p.m. on Saturdays and noon to 4 p.m. on Sundays. New kitchen appliances, cupboards, and fireplaces not in stock may be purchased from Kitchen Pros, LLC, now located in the same building as Guyer’s. For directions or other information on the sale or inventory, visit www.guyers.com.

About Buxbaum Group - Buxbaum Group has built its reputation for over 30 years as one of the largest liquidators and appraisers of retail and wholesale inventories across North America. While continuing to operate in those areas, the company has shifted its primary focus in recent years to turnaround investing.

About Stonehill Financial - Stonehill Financial, LLC is a Minnesota-based distressed company advisor to lenders and borrowers. Stonehill Financial also purchases distressed commercial and industrial loans from financial institutions.

Press Contacts: At Buxbaum Group, Stevan Buxbaum (612) 363-6517; at Parness & Associates Public Relations, Lisa Kreda or Bill Parness, (732) 290-0121; at Stonehill Financial, Donald Swenson (952) 224-2204