Liquidation World Inc.
TSX : LQW

Liquidation World Inc.

October 31, 2005 08:00 ET

Liquidation World Names New Senior Vice President, Merchandising

CALGARY, ALBERTA--(CCNMatthews - Oct. 31, 2005) -

New positions and organization to focus on strategic management of merchandising group, leverage new information systems and allow expansion of the Company's global sourcing efforts

Liquidation World Inc. (TSX:LQW) today announces the appointment of Maurice Chelli to the newly created position of Senior Vice President, Merchandising. This executive position will be responsible for the implementation of the Company's strategy to improve its focus on merchandise management in general and improve buying activities in particular. In addition to the overall management of our merchandising group, this position will work to leverage the enhanced information available to us through our new merchandise management system.

Mr. Chelli brings more than 25 years of specialty, discount and general merchandise experience including recent specific experience in the implementation of a similar merchandise management system. Mr. Chelli was most recently the senior general merchandise manager with Home Outfitters, a successful division of Hudson's Bay Company prior to which he was Vice President with responsibility for merchandising with Bargain Shop Holdings Inc. and also previously worked for Venator Group in a number of senior capacities.

"In my many years of retail industry experience I have not seen an opportunity as exciting as the one that Liquidation World presents. The business is poised to capitalize on the increasing popularity of extreme value shopping and the important role that Liquidation World plays in solving inventory issues for manufacturers, retailers and others. I am confident that my experience is highly relevant to Liquidation World and look forward to getting to work" said, Mr. Chelli.

Jonathan Hill President & CEO said: "We are delighted to welcome Maurice to the team. Following a thorough executive search, Maurice's relevant experience in a variety of environments and proven track record of successfully implementing change in a merchandising group made him our clear choice for the position. All of us look forward to working with Maurice to further our strategic objectives as they relate to merchandise management at Liquidation World."

The company is also pleased to announce that Mr. Derrick Gillespie has been named Vice President, Global Sourcing. In this new role, Mr. Gillespie will be able to dedicate his full time and attention to the development of potential new inventory opportunities around the world. "We continue to see more and more cancelled orders, late shipments and other surplus inventories from Asian manufacturers and this new position furthers our objective of improving selection and value for our customers" said Jonathan Hill.

About Liquidation World

Liquidation World liquidates consumer merchandise through 106 outlets across North America, and also provides store-closure sales management. The company solves asset recovery problems in a professional manner for the financial services industry, insurance companies, manufacturers and other organizations. Liquidation World opened its first retail outlet in 1986 and is now the largest liquidator in Canada, with more than 1,800 employees in outlets and offices across Canada and the United States.

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