Liquidation World Inc.

Liquidation World Inc.

December 17, 2008 14:35 ET

Liquidation World Announces Resignation of Jonathan Hill, President and Chief Executive Officer

BRANTFORD, ONTARIO--(Marketwire - Dec. 17, 2008) - Liquidation World Inc. (TSX:LQW) announces that Jonathan Hill has elected to resign from his duties as President and CEO of Liquidation World Inc. and as a member of Liquidation World's Board of Directors. His resignation will be effective on January 2, 2009. Mr. Hill will be available to Liquidation World on a consulting basis after his resignation to assist with transition efforts.

Craig Graham, Chairman of the Board of Directors of Liquidation World, commented, "Jonathan has been a key contributor to the growth and success of Liquidation World over the past 17 years. We appreciate his longstanding service to the Company and wish him every success in the future."

After Mr. Hill's effective resignation on January 2, 2009, Mr. Craig Graham will act as Liquidation World's interim President and CEO until such time as a new President and CEO is appointed.

About Liquidation World

Liquidation World liquidates consumer merchandise through 98 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.

Contact Information

  • Liquidation World Inc.
    Ken Wightman
    Senior VP Finance and CFO
    (519) 758-8878 ext. 2553
    (866) 237-3778 (FAX)