Binny’s to move into vacant Circuit City store in Bolingbrook

By Sandra M. Jones
Posted Oct. 5, 2010 at 11:22 a.m.

Binny’s Beverage Depot is moving into a vacant Circuit City store in Bolingbrook as the family-owned chain of liquor stores continues to expand.

The 22,000-square-foot store at the Promenade Bolingbrook is slated to open by the middle of the month, according to owner Michael Binstein. The opening will bring the retailer’s number of stores to 25, all in the Chicago area.

Binstein said with the addition of the Bolingbrook store, the company is on track to generate more than $250 million in annual sales.

Last year, Skokie-based Binny’s had an agreement to take over a vacant Circuit City store in Downers Grove, but the deal was never completed. Circuit City, a big-box consumer electronics retailer, went out of business in 2009.

Binny’s later opened in Downers Grove after buying longtime rival Sam’s Wines and Spirits last year, a purchase that included Sam’s stores in Lincoln Park and Downers Grove. Both of the former Sam’s locations were renamed Binny’s and renovated this summer, Binstein said.

Gold Standard Enterprises Inc., the parent of Binny’s, paid $10 million in Oct. 20, 2009, to acquire most of Sam’s assets, according to documents filed with the U.S. Bankruptcy Court of the Northern District of Illinois. Sam’s filed for Chapter 7 liquidation on Oct. 28, according to court records.

The court filings show Sam’s sales had fallen 24 percent to $31.3 million in 2008 from $41.3 million in 2007. The year-to-date sales at the time of Sam’s sale to Binny’s totaled $19.4 million, court records show.

Arbor Investments, a Chicago-based private-equity firm, bought most of Sam’s from the Rosen family in May 2007, ending the family’s control of the business.

Binny’s set up its first shop near Wrigley Field in 1947.

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  1. Ellie Oct. 5, 2010 at 9:18 a.m.

    Binny’s expanding TOO Bolingbrook? Really, Chicago Tribune front page?

  2. CWM Oct. 5, 2010 at 12:42 pm

    Old news

  3. Gil Oct. 5, 2010 at 4:33 pm

    Whoop-de-doo for Bollingbrook…