Mass. discount retailer files for bankruptcy - WTOC-TV: Savannah, Beaufort, SC, News, Weather & Sports

Mass. discount retailer files for bankruptcy

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HINGHAM, Mass. (AP) - Boston-area discount retailer Building #19, famous for its comic book-style circulars and the motto "Good Stuff ... Cheap," is closing its doors after a nearly half century in business.

The Hingham-based company, with 10 stores in Massachusetts, Rhode Island and New Hampshire, filed for bankruptcy last week. The company is seeking permission to hire a liquidation consultant and close by Dec. 8.

The Patriot Ledger (http://bit.ly/1bS7JUR ) reports that the company cited Internet competition and a lack of cash for new inventory as the reasons for the filing.

Building #19 was co-founded in 1964 by Jerry Ellis, a laid off appliance salesman.

The chain, which sells salvaged goods, overstocks, surplus and irregular merchandise, often made fun of its no frills, disorganized stores. One recent circular said "Suffer a little. Save a lot."

Information from: The (Quincy, Mass.) Patriot Ledger, http://www.patriotledger.com

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