If there are two sides to every story, the one that's lesser told is that going-out-of-business is actually a big business, especially lately.
While it's the end of an era for Toys R Us, the department stores Bon-Ton runs and many other retailers over the last several years, it's a big opportunity for liquidators.
"The last three years have been the busiest we have ever experienced, and I have been doing this for 20 years," Scott Carpenter, retail solutions president at B. Riley Financial's Great American Group unit told CNBC in an interview.
Liquidators Great American Group and Tiger Capital Group bought Bon-Ton's remaining assets in bankruptcy earlier this month and have just begun running the liquidation sales at more than 200 department stores throughout the country.
The two companies, along with Gordon Brothers and Hilco Merchant Resources, are also running the Toys R Us liquidation sales at 735 U.S. stores, but unlike with Bon-Ton, the liquidators didn't buy the Toys R Us assets. Instead the four firms are being paid a fee to run the sales.
In recent years, Tiger Capital and Great American worked together on store closing sales at Macy's, hhgregg, Payless, Gander Mountain and Gordmans department stores, among others.