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, citing more than $106 Million in outstanding debt. In bankruptcy court, Wynit commenced with the process of selling all of its assets.
Hilco Receivables 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 will collect the accounts receivable.