Liquidation World Inc.

Liquidation World Inc.

June 24, 2009 16:21 ET

Liquidation World Announces Appointment of Dan Ardila To Chief Financial Officer

BRANTFORD, ONTARIO--(Marketwire - June 24, 2009) - Liquidation World Inc. (TSX:LQW) has appointed Daniel Ardila, to the position of Chief Financial Officer & Senior Executive Vice President Finance, subject to regulatory approval. Mr. Ardila will fill the roles previously performed by Ken Wightman, who will continue with the Company for a limited time to ensure an effective transition.

"We are very pleased to have Dan join our growing team", said Seth Marks, President and CEO of Liquidation World. "He brings a great deal of experience to the table and has a proven history transitioning companies through restructuring and on to profitability. Dan's senior management depth, combined with his extensive public company experience, provides the ideal background to support our turnaround and growth strategy at Liquidation World."

Mr. Marks continued," We would like to thank Ken for his service to the Company and wish him much success in the future."

Mr. Ardila joins Liquidation World from 6N Silicon Inc., an early stage company in the solar industry and prior to that was Vice President and Chief Financial Officer at Algoma Steel Inc. ("Algoma"), where he successfully led the company's sale in mid-2007 at a 70% premium to its trading price six months earlier. Prior to his two years at Algoma, he spent eight years as Executive Vice President and Chief Financial Officer at CPI Plastics Group Ltd., a TSX listed company, where he led the Initial Public Offering team and subsequently led financings, merger and acquisition initiatives and worked within the financial community as lead contact for investor relations, in addition to managing all aspects of finance administration. Between February 1994 and July 2007, Mr. Ardila was Chief Financial Officer and Controller at privately held Xela Enterprises Ltd., an international industrial entity, where he was responsible for all financial controls, consolidation and reporting for all subsidiaries as well as manager of treasury operations. He began his career at KPMG LLP in 1987 and was promoted to Manager in 1992.

"I am very excited to be joining Liquidation World at this important time, when the Company is so focused on achieving profitability," said Mr. Ardila. "The prospects for Liquidation World are very compelling, and I am especially pleased to be joining a management team that is so focused and driven."

About Liquidation World

Liquidation World liquidates consumer merchandise through 97 stores in Canada and the United States. The Company solves asset recovery problems in a professional manner for the financial services industry, insurance companies, manufacturers, wholesalers and other organizations. Liquidation World is based in Brantford, Ontario and maintains a number of regional buying offices in Canada and the United States. The Company opened its first store in Calgary, Alberta in 1986 and today, with more than 1,400 employees, is Canada's largest liquidator.

Forward-Looking Statements

This release includes forward-looking statements and potential future circumstances and developments. Forward-looking statements regarding future performance are subject to risks and uncertainties, and actual results may differ materially.

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