How to Locate Companies Going Out of Business

Companies going out of business aren’t that hard to locate if you know where to look and what to do. These companies often present an excellent opportunity for investors and other consumers looking to revive a struggling brand or capitalize on store-closing sales.

Instructions:

1. Use an internet search engine to locate websites dedicated to buying and selling businesses. There are a number websites that allow you to register for free and bid on companies going out of business, similar to eBay and other auction sites. The fees are attached to the seller in these cases, so it generally doesn’t cost anything to bid.

2. Obtain a copy of your local newspaper and check out the “Legal Notices” section. Most local businesses that are closing down will post a notice in this section in order to inform the public and catch people’s attention. Sometimes this is to attract potential buyers and other times this is to alert customers about a store-closing sale.

3. Keep your eyes peeled for road signs, window signs, and billboards advertising stores or companies going out of business. It’s very common for businesses to publish a closing notice this way, especially during the spring and summer months.

4. Register on a “business alert” style website in order to receive updates about closing businesses. There are a number of websites that allow users to register for alerts on closing businesses. Some of these sites charge for this service and others do not. Generally, the sites that charge provide more comprehensive information, but registering for both types can help to maximize your coverage.

5. Watch the news on television each day. Many times, television newscasts will report on companies going out of business far before newspapers or other media. By watching each day, your chances of being the first to know about these closings increase dramatically.

Tips:

Remember that business open and close every day. If you’re having trouble finding companies going out of business just be patient, keep looking, and it won’t be long before you stumble upon a good investment opportunity or a great in-store sale.

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