Before a company goes out of business, they typically publicize the event months in advance so they can sell off their inventory or machinery. Everyone is looking for a bargain these days the way the economy is. One recent company slated to go out of business is Circuit City. And numerous airline companies have gone out of business in the past. Companies are looking for a means of generating cash to pay off taxes or creditors in which they have a legal obligation.
There are a number of sources available to find lists of companies going out of business. Companies going out of business often run full-page advertisements in newspapers, thanking customers for their patronage. They also use classified ads, business sections or mention it on their web site. The Wall Street Journal can be an excellent source months in advance if the company is public.
You can start your search by reading your local newspaper. Look under "Businesses For Sale," public notices or auctions. Company assets and inventory are frequently auctioned off just like a person's foreclosed home.
Another way to find companies that are liquidating is to do a search on Yahoo or Google. There are a number of watchdog agencies that make this information public many months in advance. Some companies are small enough to use business brokers who are involved in connecting buyers and sellers. These businesses often create newsletters as a marketing tool. Some of these listings may appear online as free information with the intention of getting you to subscribe. It is not necessary to spend money to find companies on their way out. There is plenty of free information available.
You can often position yourself as a potential client and obtain information from some of these business brokers. These companies get many calls a day from interested parties. They may just send you a list of companies that are slated to liquidate or available for purchase.
If you want to receive an ongoing list of companies going out of business, try getting yourself on a mailing or e-mail list with some of these watchdog agencies or brokers. They will be glad to keep you apprized of the latest company closings.
Small companies will often put signs up on grocery store bulletin boards, telephone poles at the local post office or leave stacks of flyers announcing their "Going Out of Business" sale. Seek out these postings when you are out running errands and shopping.