It is called Sivagstore and it is the first store opened in Italy with the aim of giving people the opportunity to buy goods derived from bankrupt companies at heavily discounted prices. An opportunity previously possible only through judicial auctions. It resells items of even the biggest brands at bargain prices. Owned by the Court of Milan, it really is better than an outlet. Its purpose?
SivagStore Milano was founded in 2014 and was the first such store in Italy. Given its huge success, other cities have emulated what was achieved in the Lombard capital. Sivagstore is the ideal place for anyone who wants to buy without spending exorbitant amounts of money. In fact it is really convenient as the merchandise boasts a very low discount compared to the list value, the savings is almost 80%. Looking for a gift? This is the store to go to.
The goal of the store, which opened almost 10 years ago, is to financially help companies that are creditors to bankruptcy proceedings. So Getting the right compensation from the sale of the movable assets left to those bankrupt stores, finding an alternative to public auctions from which less and less was being made than the real value. The initiative is very nice: to lend a hand and offer an additional channel of help to those who go bankrupt.
But what is Sivagstore?
Sivagstore is an institution of judicial sales (IVG). The website of the Ministry of Justice explains what realities these IVGs are: Institutions of judicial sales (IVGs) are private entities that, by ministerial concession, are authorized to the auction sale of goods ordered by the judicial authority, as well as the custody of movable property and the judicial administration of real estate.
Basically, they are entities that are entrusted with the custody of goods and/or objects from foreclosures or bankruptcies and manage their sale, while also lending a hand to those who have claims against bankrupt companies. The savings are very convenient: the price of the item, determined by court appraisals, is knocked down from 50 percent to 90 percent of the tag price.
What you can find there: items vary according to procedures, men’s, women’s, children’s clothing, footwear, leather goods, jewelry, gifts, wine, pens, cycling accessories, home appliances, etc…
Where is Sivagstore Milan located?
The store is located at 47 Via Carlo Farini corner Via Longoni. It follows the following hours Mondays from 2 p.m. to 7 p.m., Tuesdays-Fridays from 10:30 a.m. to 7:15 p.m. Saturday 10:30 a.m. 18.45. Closed on Sundays. The store is replenished often, sometimes even daily, and inside it sells mainly clothes, although you can find alternatives to clothing, shoes, kitchen items and more.
Savings are assured. Inside you can find great, branded items, but at affordable prices that are cheaper than in a regular store. On the site you can find more information and updates on possible restocking.
Just to clarify. The store sells only on-site and not online.
Where: via Carlo Farini 47 – MM Maciachini – puntovendita@sivag.com in case you want to contact them directly.