The days are numbered for Fridley's store.
Last week Brand Name Deals' parent company, Jacobs Trading, was sold to a Washington, D.C.-based online retailer, Liquidity Services Inc. (LSI), last week; according to store manager Pat Kyllonen won't keep be keeping Hopkins-based Jacobs' only brick-and-mortar store open.
Brand Name Deals will continue retail sales for at most 120 days after Oct. 3, the date the sale of the company became final, Kyllonen said. The store may close as soon as the end of the year, she said; a closing date is not yet definite.
A going-out-of-business sale is now underway, but the store is still set to receive 70 truckloads of "all kinds of merchandise," according to Kyllonen. The store sells an ever-changing stock of electronics, furniture, clothing, toys and more—much of it overstock or returned custom items from other retailers.
About 20 employees will lose their jobs when the doors close. In the meantime, however, the store has added staff to handle increased customer traffic.
"We have no hard feelings" toward the Jacobs Trading or company owner Irwin Jacobs, Kyllonen said. "He did what was best (for the company)."
Jacobs is seeking a buyer for the building at 1000 E. Moore Lake Dr., she said—most likely another retail store. There is a chance Brand Name Deals workers could find new jobs with a new owner, she said.
City of Fridley Community Development Director Scott Hickok said the property is zoned for retail, but that the city would not have a role in a what he expects will be private real-estate deal that will determine the site's future use.
The store has gone by the name Brand Name Deals for nine-and-a-half years, Kyllonen said. Earlier, Jacobs operated the store by the name World's Best Deals and leased the space to a Petters retail store.
Shopper Julie McMonigal said she has only visited Brand Name Deals only once or twice over the years to buy odds and ends. But she reported Wednesday (on the Fridley Patch Facebook page) that she found several good deals at a "totally packed" store.