||Irwin Jacobs got his start in the closeout business.|
||JYJ Corporation was formed by Jacobs to run major liquidation events.
||Jacobs merges JYJ into COMB (Close-out Merchandise Buyers) and expands
into mail-order and retail distribution to complement the JYJ wholesale
||Jacobs and his business partner took public their chain of COMB closeout
stores. The stock soared and the company began hitting lists of the
nation's fastest-growing small businesses.|
||COMB and several cable television companies formed a joint venture, the
Cable Value Network (CVN), to develop the concept of shopping by
television. A year later, CVN had 14 million subscribers in 47 states.
QVC, a television shopping company, later acquired CVN and COMB's retail
||Jacobs led a management buyout of the wholesale division of COMB to form
Jacobs Trading Company. The company was headquartered in a newly
restored office and warehouse location in Minneapolis' warehouse
||Jacobs Trading Company became the exclusive liquidator for a major
retailer, handling the retailer's customer returns throughout the U.S.
JTC also opens an additional processing/distribution center in Appleton,
||Jacobs Trading Company expanded its operation and moved its headquarters
to an office and warehouse facility located in Plymouth, Minnesota with
multiple distribution centers located throughout the United States.
||Jacobs Trading Company expanded again and moved its headquarters to a
300,000 square foot office and warehouse facility located in Hopkins,
||Jacobs Trading was acquired by Liquidity Services, Inc. (NASDAQ: LQDT)
which provides leading corporations, public sector agencies and buying
customers the world's most transparent, innovative and effective online
marketplaces and integrated services for surplus assets. Jacobs Trading
is a natural complement to the Retail Supply Chain Group within Liquidity
Services, enhancing its position as the leading reverse supply chain
solution for Fortune 500 retailers and manufacturers of consumer goods.