WESTERVILLE, Ohio – June 20, 2005 – Organized Living Inc. has received approval from a federal bankruptcy judge for the Southern District of Ohio to appoint a joint venture led by SB Capital Group as their exclusive agent to liquidate assets in 22 Organized Living stores. The Westerville based retailer, which filed for Chapter 11 bankruptcy protection on May 4th, specialized in storage and organizational products marketed for both home and office use.
Product currently located in the stores, as well as product located in the distribution center, will be liquidated through Going-Out-of-Business Sale events held in the company’s 22 locations in 16 states.
The Organized Living chain originated in 1985 when the first store opened in Overland Park, Kansas under the name Containers and More. The company later changed its name to Organized Living, and in the late 1990’s, began expanding to other cities throughout the country. In 2004, with a new CEO in place, the company moved its headquarters to Westerville, Ohio, and began plans to expand aggressively on a national scale. Efforts to secure additional financing failed in 2005 and led to the company’s Chapter 11 filing in May.