MUNICH, Oct. 10, 2016 /PRNewswire/ -- GA
Europe, a leading retail
restructuring specialist and a division of Great American Group
(GA), has assumed control of significant assets of the Dutch
plus size retailer, MS Mode Nederland B.V., which filed for
insolvency on August 11th. GA
Europe acquired these assets
including €36m retail inventory within 130 Nederland stores.
With the goal to deliver a sustainable, restructured business to
a going concern investor, GA Europe will be operating the business and
executing a store closure program for MS Mode's stores that will
enable the retailer to focus on its remaining profitable
operations.
"By assuming control of the operations and implementing a proven
restructuring program, GA Europe
will provide critical support to MS Mode in its pursuit to
revitalize an important retailer in the plus size fashion
business," said Dr. Tino Bauer,
Managing Director of GA Europe.
"Having successfully completed over 25 similar transactions, GA
Europe has the experience to not
only provide capital quickly, but is also positioned to expertly
manage the restart of the business."
About GA Europe
GA
Europe, a division of Great
American Group, LLC, offers deep retail expertise and a compelling
track record in solving challenging retail situations, operating in
partnership with retailers, private equity sponsors, financial
stakeholders, corporate lenders and their professional advisors. GA
Europe's services focus on valuing
retail assets, lending to retailers and working out complex
distressed situations, often by taking senior investment
positions.
About Great American Group
Great American Group,
LLC is a leading provider of advisory and valuation services,
asset disposition and auction solutions. Great American
Group efficiently deploys resources with sector expertise to
assist companies, lenders, capital providers, private equity
investors and professional service firms in maximizing the value of
their assets. For more information about Great American Group,
visit www.greatamerican.com or call 818-884-3737.
Great American Group is a subsidiary of B. Riley
Financial, Inc. (NASDAQ: RILY), a diversified provider of
collaborative financial and business advisory services through
several subsidiaries, including: B. Riley & Co. LLC,
a leading investment bank which provides corporate finance,
research, and sales & trading to corporate, institutional and
high net worth individual clients; Great American Group,
LLC; B. Riley Capital Management, LLC,
an SEC registered Investment Advisor, which includes B.
Riley Asset Management, a provider of investment products to
institutional and high net worth investors, and B. Riley Wealth
Management (formerly MK Capital Advisors), a multi-family
office practice and wealth management firm focused on the needs of
ultra-high net worth individuals and families; and Great
American Capital Partners, a provider of senior secured loans and
second lien secured loan facilities to middle market public and
private U.S. companies.
B. Riley Financial, Inc. is headquartered in Los
Angeles with offices in major financial markets
throughout the United States and Europe. For more
information on B. Riley Financial, Inc.,
visit www.brileyfin.com.
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SOURCE Great American Group