Hilco Global
| Company type | Private |
|---|---|
| Industry | Financial services |
| Founded | 1987 |
| Founder | Jeff Hecktman |
| Headquarters | Northbrook, Illinois , United States |
Area served | Worldwide |
Key people | Jeff Hecktman (Founder and CEO), John Chen (President and COO), Ernest Fiorante (Executive Vice President and CFO) |
| Products | Asset valuation, advisory services, capital monetization, disposition solutions |
| Website | hilcoglobal |
Hilco Global is an international financial services holding enterprise overseeing more than twenty subsidiaries across five continents. Based in Northbrook, Illinois, the company specializes in asset valuation, advisory services, capital monetization, and disposition solutions. Its worldwide operations cater to businesses, lenders, and professional advisors within retail, commercial, industrial, and financial industries.
The firm concentrates on extracting maximum value from underperforming and surplus retail stock, consumer goods, industrial inventories, real estate holdings, intellectual property—including consumer brands and patents—as well as accounts receivable. Recognized as one of the leading distressed investment and advisory organizations globally, Hilco employs a diversified approach through its subsidiaries such as Hilco Merchant Resources, Hilco Real Estate, Hilco Capital, and Hilco Valuation Services.
Prominent leadership figures include founder and CEO Jeff Hecktman, President and COO John Chen, Executive Vice President and CFO Ernest Fiorante, alongside other senior executives who guide the company’s strategic direction and growth initiatives.
History
Jeff Hecktman established Hilco Global in 1987 by launching Hilco Trading Company following the restructuring of his family’s industrial supply business and the divestiture of non-performing assets. The organization rebranded as Hilco Global in 2013, introducing a refreshed logo and website.
In 2006, significant investments were made by entities such as Goldman Sachs Group and Cerberus Capital Management to support private equity-style acquisitions targeting declining consumer brands. In 2019, Canadian pension fund manager La Caisse de dépôt et placement du Québec (CDPQ) acquired a 27% stake in Hilco. That same year saw Hilco subsidiary H19 Capital expand its transportation and truck leasing operations by purchasing Indianapolis-based 19th Capital Group.
Hilco Merchant Resources / Hilco Consumer - Retail
Established in 2000, Hilco Merchant Resources LLC focuses on retail inventory appraisal, store closure management, asset disposition, and protection services. Led by CEO Michael Keefe, this division rapidly ascended to become one of the top five liquidation firms in the United States, overseeing major transactions including the $1.8 billion Montgomery Ward liquidation. Its client portfolio features liquidations for Sears, Sears Canada, CompUSA, Sportmart, PharMor Rx, Coldwater Creek, Charming Charlie, and Target Canada.
In 2016, Hilco Merchant Resources was instrumental in preventing Aéropostale’s liquidation by facilitating its restructuring efforts and reopening more than 500 stores. The division also administered the nearly $2 billion liquidation process for Toys "R" Us inventory during its 2018 shutdown. Expanding its global footprint, Hilco launched an office in Australia to manage liquidations for retailers such as Fletcher Jones, Dubbo Everyday Living, and Dick Smith.
ReStore for Retail, a subsidiary of Hilco Global, introduced a mobile platform designed for visual merchandising and operational management to boost frontline associate efficiency and enhance customer experiences within stores.
ReStore Capital
Hilco Global introduced ReStore Capital in 2019 to resolve issues related to shipping and inventory management between retailers and vendors. This entity buys shipments directly from suppliers and consigns the merchandise to retailers, thereby enhancing inventory circulation and optimizing cash flow.
Hilco Real Estate
Established in 2000, Hilco Real Estate, LLC operates as a nationwide provider of expedited real estate disposition and advisory solutions. The firm was co-founded by Mitchell Kahn, who served as CEO until 2008; currently, Neil Aaronson holds the CEO position, with Gregory Apter as President. Among its notable engagements, Hilco Real Estate managed 1,200 leases for MCI Worldcom, facilitated the closure of numerous Blockbuster locations following its 2010 bankruptcy, and handled the disposition of roughly 200 Borders stores after its 2011 bankruptcy. The division also oversaw the sale of more than 165 surplus Hostess properties after the company’s 2013 bankruptcy.
In 2012, Hilco broadened its scope by creating Hilco Real Estate Finance LLC, a private mortgage lending arm that originated loans in approximately 20 states before being acquired by Garrison Investment Group in 2014.
In August 2023, Hilco Global and Hilco Real Estate were retained by WeWork to provide restructuring advisory services aimed at circumventing Chapter 11 bankruptcy through out-of-court debt reorganization.
Hilco Capital
Launched in 2000 by Hilco Global, Hilco Capital is a UK-based enterprise concentrating on retail restructuring and distressed asset investments. It has established a presence internationally with offices in Ireland, Spain, Germany, Canada, and Australia, focusing on financially troubled markets to capitalize on turnaround prospects.
Hilco Valuation Services
Originally founded in 2001 as Hilco Appraisal Services LLC and later rebranded as Hilco Valuation Services, this U.S.-based division integrates appraisal services across industrial, retail, and real estate sectors. Operating globally with offices in the U.K., Canada, Australia, Mexico, South America, and Asia, it provides strategic asset valuation assistance to clients. A prominent engagement includes the 2005 appraisal of over 40 million square feet spanning 29 Delphi Automotive facilities.
Hilco Receivables
Established also in 2001, Hilco Receivables LLC specializes in purchasing and managing non-performing debt portfolios along with accounts receivable servicing. By 2004, it had acquired receivables exceeding $2 billion in value. In 2006, it expanded through a collection center staffed by 200 employees operating under Apex Financial, LLC. The division delivers receivable valuation services and financing options for lenders and debt portfolio purchasers. A key transaction involved acquiring $25 million in receivables from National Envelope Corporation following its bankruptcy in 2013.
Hilco Retail Consulting
In 2004, Hilco Global acquired a retail strategy consulting practice formerly part of Arthur Andersen, known as Senn Delaney – SD Consulting. This unit was renamed Hilco Retail Consulting (HRC Advisory) in 2013 and was subsequently sold to Accenture in 2021. Its North American team integrated into Accenture’s Retail Strategy division following the acquisition.
Hilco Consumer Capital
Hilco Consumer Capital, a division of Hilco Global, served as the foundation for Hilco Brands. Its initial acquisitions featured renowned names such as the 1970s fashion icon Halston, Chicago's Ram and Tommy Armour golf clubs, Le Tigre, Haute Hippie, Portico, Under the Canopy, Linens 'n Things, and Polaroid. In 2017, the Polaroid brand and its intellectual property were sold by Hilco to the Smolokowski family, investors from Poland. That same year, Hilco Brands made an investment in StreetTrend LLC, a startup specializing in luxury sneakers.
Hilco Streambank
Established in 2011, Hilco Streambank focuses on intellectual property asset management for distressed companies such as Borders, PoshTots, Linens N’ Things, and Circuit City. It also operates the IPv4 auction marketplace, which facilitates transactions involving IPv4 assets. In 2019, Hilco Streambank conducted auctions featuring the photo archives of Johnson Publishing’s Ebony and Jet magazines and managed the sale of intellectual property for Charming Charlie following its bankruptcy. The following year, it oversaw the marketing and sale of Earth Fare’s retail locations, leases, and IP after their bankruptcy filing. By 2023, IPv4.Global had brokered transactions totaling $1 billion in IPv4 address sales, highlighting Hilco’s significant role in digital asset markets.
Hilco Industrial
Hilco Industrial LLC, part of Hilco Global’s Industrial division, gained national recognition in 2014 for overseeing the disposition of surplus municipal transportation assets after Detroit filed for bankruptcy—the largest municipal bankruptcy case in U.S. history. Prior to that, in 2010, Hilco Industrial managed the sale of manufacturing facilities belonging to Chrysler and General Motors. In Australia, this division handled the liquidation process of Toyota Altona, the continent’s final automotive manufacturing plant.
Hilco Redevelopment Partners
In 2012, Hilco Redevelopment Partners (HRP) acquired Maryland's Sparrows Point Steel Mill with plans to convert it into Tradepoint Atlantic—a warehouse and distribution center—partnering with Baltimore-based investment firm Redwood Capital Partners. In 2017, HRP purchased Chicago’s Crawford Generating Station to redevelop it into Exchange 55, a state-of-the-art distribution facility.
After the Philadelphia Energy Solutions refinery declared bankruptcy and suffered a fire in 2019, HRP bought the property for $225.5 million. The firm undertook extensive dismantling and environmental remediation efforts before beginning redevelopment. By 2023, HRP initiated construction on the first phase of The Bellwether District in South Philadelphia, transforming the former industrial site into a logistics and e-commerce campus.
HRP benefits from strategic guidance provided by its corporate advisory board members including Dr. Judith Rodin, Lieutenant General Thomas P. Bostick (Ret.), Ron DeGregorio, and Michael K. Ohm.