News August 19, 2022
Tri-Mountain, a Former Top 40 Promo Products Supplier, Is Closing
The California-based firm, which specializes in apparel, was one of the biggest suppliers in promo as recently as 2021.
UPDATE FRIDAY, AUG. 19, 2022, 8 am.
Tri-Mountain (asi/92125), a Top 40 supplier as recently as 2021, has released new information in the wake of its announcement this week that it’s closing.
The Irwindale, CA-based company is instructing distributors/customers to direct all purchase inquiries after Friday, Aug. 19 to wholesale@hilcoglobal.com.
Hilco Wholesale Solutions assists retailers, manufacturers, and trademark holders in re-marketing unproductive, aged, and out-of-season inventory. The business develops customized solutions to monetize unwanted and unproductive inventory for a broad range of products, including apparel, footwear, sporting goods, housewares, end-of-season merchandise and much more.
Hilco said that it’s currently in the process of relocating Tri-Mountain inventory. The company said it could be ready to begin fulfilling orders in mid-September.
“Leveraging Hilco's global disposition capabilities, infrastructure, and expertise, Hilco Wholesale Solutions is able to re-market the aged, unproductive and out-of-season merchandise assets and avoid channel conflict,” the company says. “The end result is a timely, tailored disposition program geared toward maximizing recovery and providing liquidity.”
Hilco Wholesale Solutions is part of Hilco Global, a diversified financial services holding company that operates more than 20 businesses. The Northbrook, IL-based company specializes in asset valuation, advisory, monetization and disposition services.
Original Article that appeared Aug. 17:
Tri-Mountain (asi/92125) is shutting up shop for good.
Founded in 1993, the former Top 40 promotional products supplier announced on its website that it will be closing down.
“After almost 30 years of serving you, we have decided to cease operations in the near future,” the apparel company said in a statement. “Please accept our deepest thanks for the opportunities to work with you over the decades.”
Tri-Mountain sent notifications to customers on Wednesday, Aug. 16 about the coming closure. On industry social media forums, promo pros expressed surprise and sadness over the loss of a supplier that some praised for its customer service and range of styles. “So sad and hope another established garment supplier sees the value and quality Tri-Mountain offers,” said one commenter.
Tri-Mountain noted that in-stock inventory is available on a final sale basis from Tuesday, Aug. 16 through Thursday, Aug. 18. The Irwindale, CA-based company will only be accepting blank orders. All sales are final, and there’ll be no returns, exchanges or refunds allowed.
“Please note inventory levels will be rapidly changing during this period of time,” Tri-Mountain said in a statement. “Inventory numbers shown online are a guideline and will be confirmed by Tri-Mountain staff after order placement.”
Distributors that previously placed an order for decorated apparel are not out of luck. Tri-Mountain said it will complete decorated orders already in progress as planned.
Regarding customer service calls, Tri-Mountain said to allow for additional wait times and increased response times. “You may also email us at sales@trimountain.com or contact your preferred Tri-Mountain customer sales representative directly,” said the company, adding that all outstanding balances must be settled by the invoice due date.
While Tri-Mountain is winding down, it’s possible that some form of the company’s wares may be on the market after this week, potentially distributed by another company. Several distributors shared that they heard from Tri-Mountain that another announcement on that possibility would be forthcoming. ASI Media has contacted Tri-Mountain for official word on what, if anything, may come next.
Tri-Mountain last appeared on Counselor’s Top 40 list of the industry’s largest suppliers in 2021, when it ranked 36th overall. That year, Counselor estimated that the firm’s revenue declined by an industry average of 20%.
The drop continued a run of poor results for the business. Between 2018 and 2020, diminishing sales saw Tri-Mountain plummet 10 spots in the Top 40 rankings, placing 35th in 2020 after its revenue retreated by $2.65 million in 2019. At the time, Tri-Mountain said increased competition was the root cause of the sagging sales.
Despite the struggles, Tri-Mountain was a finalist in five different apparel categories in the 2021 Counselor Distributor Choice Awards and was known as being a leader in bringing certain fashion forward female-focused styles to the promo products industry – an effort that included its Lilac Bloom line.