Sol, a Russian immigrant to the United States, started a business in 1967 selling closeout and overstock car parts. The business, Consolidated Stores, took off when Sol switched to household goods. They renamed Consolidated Stores to be Big Lots (which was formerly called ‘Odd Lots’ across the country.) In the lat 1990s, Big Lots bought out Pic ‘N’ Save stores.
In late 1975, Sol bought the remains of Malcolm Bricklin’s car company and sold off the remaining 300 Bricklin cars, along with the leftover parts inventory.
Shenk and his business partner Jerome Schottenstein invested in DeLorean prior to the company’s demise. In 1982, he paid the Bank of America $18 million for a stake in the company. Shortly after John DeLorean’s arrest, Shenk paid another $1.5 million to the company and took on nearly $9 million in debt to take ownership of approximately $1.2 million worth of DeLorean parts (as well as exclusive distribution rights for the remaining cars and parts in the US.)
Soon after his purchase, Shenk began shipping the leftover parts and cars a warehouse in downtown Columbus, OH. He then hired KAPAC to begin selling the remaining cars and parts inventory.
Sol Shenk: October 15, 1911 – August 30, 1994