News Releases - 2006


Home > Investors > News Releases > 2006 > Liquidation World Appoints Former Home Depot Executive as Senior Vice President, Operations

Calgary, March 7, 2006

Position to focus on implementation of strategic objectives and the improvement of same store sales through better store environments, efficiencies possible with new merchandise management system and leverage resources of re-organized merchandising group.

Liquidation World Inc. today announces the appointment of Dennis Kennedy to the position of Senior Vice President, Operations. This important executive position will be responsible for the implementation of the Company’s strategy to improve sales and operating efficiencies in existing stores while continuing to pursue growth opportunities. The Company will soon undertake process changes in its stores that are supported by a new merchandise management system. These changes will allow the elimination of certain work resulting in a greater focus on customer service, inventory management and store maintenance. This will also provide opportunities to operate more efficiently while increasing sales.

Mr. Kennedy has more than 20 years of retail experience in a variety of environments. In 1984 he began a 15 year career with Home Depot in the United States during a period in which they grew from fewer than 20 stores to over 1000. Mr. Kennedy has lived in Canada for several years and will be based in our Brantford, Ontario office working closely with our merchandising group as a key part of our executive team.

“I’m very excited to join Liquidation World. There is a tremendous foundation upon which to build and a truly unique, relevant business model that I look forward to contributing to. The investments that the company has made in infrastructure and people I expect will enhance this business and support growth. I was especially attracted to a culture that is focused on excellence, accountability and a real entrepreneurial approach to retailing”, said Mr. Kennedy.

Jonathan Hill President & CEO said: “We are very pleased to welcome Dennis to the team. We are building on an entrepreneurial base with a highly qualified team of senior professionals. His experience with growth and change as part of a very successful US based retailer will be a great asset to us. His passion for inspiring entrepreneurs and customer focused decision making by effective local managers was a natural fit with our business. Our restructured buying group led by Maurice Chelli, named as Senior Vice President, Merchandising last October, has already proven to be effective at increasing sales and merchandise management. The addition of an experienced operations executive will build upon these efforts.”

For more information, please contact:

Jonathan Hill, President and CEO
416-587-0688 phone
866-237-3778 fax
jonathanh@liquidationworld.com

Mr. Andrew Searby, C.A., Executive Vice President and CFO
E-mail: investorinfo@liquidationworld.com
Website: www.liquidationworld.com
Telephone (403) 250-1222
Fax: (403) 291-1306