Black Friday Expected to Surpass 2011 in Sales

With the economy's continued sluggishness, 2012's Black Friday is as important as ever to retailers.

Black Friday deals will begin earlier than ever this year, with some stores opening on Thanksgiving Day as early as 8 p.m. Major retailers such as Target, Best Buy, and Wal-Mart will even open midnight on the eve of Thanksgiving and then re-open Thanksgiving night. With consumer spending making up two-thirds of the economy, the concern over the greatly discussed "Fiscal Cliff" could have an impact on Black Friday sales. As the Examiner notes, many retailers spend the year taking losses, with the Black Friday event pushing them into profitability. But a Pew poll shows 51% of Americans do not feel the Fiscal Cliff will be avoided by the first of the New Year.

Despite this, projections indicate that Black Friday crowds will be larger this year, with an estimated 152 million people shopping over the weekend according to a report by the National Retail Federation (NRF). The NRF projected that 138 million shoppers would show up in 2011, while in actuality, 212 million took part in the shopping weekend (CNN Money). With underestimations common for the NRF, and 2012's projection higher than that of 2011, retailers have reason for optimism in surpassing last year's sales. This, combined with the earlier opening of stores, should result in a big boost for retailers.

After the weekend comes to a close, retailers will shift their attention to Cyber Monday, which is expected to see sales reach $2 billion - a rise of 18% from 2011. The projection comes from Adobe Systems' Digital Index 2012 Online Shopping Forecast. Adobe also predicts that Black Friday will be the second-biggest online retail day of the year, as well as the biggest mobile shopping day of the year.

North Mill Equipment Finance, LLC Created from Colford Capital Acquisition

Colford Capital has acquired Equilease Financial Services, creating North Mill Equipment Finance LLC. Dan Zwirn is a co-manager and co-owner of ALDA Capital which holds a minority stake in Colford Capital.

Colford Capital is a New York City based holding company focusing on building an industry leading, diversified, specialty finance and asset management business. Colford also owns North Mill Capital, a national asset based lending and receivable factoring company.

Equilease has been originating equipment leases and loans under 55 years of experience. They have also had a history of purchasing and servicing equipment lease and loan portfolios from banks and other finance companies. Since 2002, Equilease has bought over 30 lease and loan portfolios totaling over $1 billion of asset value. According to their website, they have done this primarily in the following industries:

• Transportation
• General Construction
• Road Construction
• Manufacturing
• Distribution
• Recycling
• Plastics
• Packaging
• Printing

Colford announced that they have acquired "substantially all of the assets" of Equilease. To service the acquisition of Equilease, Colford created a subsidiary, North Mill Equipment Finance LLC, and has made a significant equity investment into North Mill. The press release states they will use this investment to originate new small-ticket leases through vendors, dealers and brokers, as well as to purchase more lease portfolios as the newly branded North Mill.

Dan Zwirn's ALDA Capital is an investor in Colford Capital, which has acquired Equilease Financial Services.

Equiliease President, CEO and owner, Gary Silverhardt, will remain President and CEO of North Mill and own a minority stake of shares. The Equilease team will remain in place and in their location in Norwalk, Connecticut, while joining North Mill.

Colford currently manages over $2 billion in capital and is majority owned by Monitor Clipper Partners. ALDA Capital, co-managed and co-owned by Dan Zwirn and Al Gordon, is the other primary investor.


Full Press Release