Olivia and Paynesville Alco Store Closings 17 Dec 14

The Alco Store in Olivia is closing it’s doors.

KWLM reports that last month, Alco’s parent company Tiger Capital Group and SB Capital Group LLC announced they were closing their stores as part of bankrupcy proceedings.

Paynesville is also losing their Alco Store.

In Olivia, a going out of business sale is taking place through the end of January to liquidate all merchandise and store fixtures.

Alco has been in business since 1901 and operated 198 stores in 23 states, but filed for bankruptcy in October. Efforts to find a new buyer for the company failed.

People were able to bid on leases for the store buildings through Monday, and today (Wednesday) an auction takes place in Dallas TX.