Kentucky businessman showed a heart of gold by buying the entire inventory of a closing K-Mart and donating it to charity.
After turning aside calls from flea markets looking to buy the inventory valued at around $200,000, Rankin Paynter, the owner of a Winchester firm that buys up surplus goods, decided to donate the merchandise to a local charity.
"I told my wife, I can make $30,000 or $40,000 on this deal but let's give it to charity," Paynter told ABC News. This story first appeared on Lex18.com.
During a visit to the store, the good Samaritan was checking out the display cases and a safe for his jewelry buying business when he learned the store would sell all of the merchandise on the last day of business. One requirement: You had to be a power buyer.
Paynter, who is a power buyer, had to fill out an application with the company to purchase the goods, which had everything from winter clothes to over-the-counter medicine. According to Paynter, the day before closing the store called to offer him the whole lot. But there was one rule.
"They said you can buy it all but you must sign a contract and take everything left in the store," Paynter told ABC News.
And, he did.
On Sunday, May 6, the businessmen stood in line for six and half hours to purchase the inventory that had to be rung up at four different registers the evening the store closed. It took the 77-year-old two trucks, two vans and six workers to move all the items from the store to storage. However, Payntner had no clue then what he planned on doing with all the inventory.
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