Jul 28,2011

Economic Conditions Keep Great American Group Busy During First Half of 2011

WOODLAND HILLS, Calif.--(BUSINESS WIRE)-- Whether it's involved in a major asset disposition, an on-line auction or assisting retailers renegotiate leases through its realty division of GA Keen Realty Advisors, the flat and fluctuating U.S. economy has kept Great American Group, LLC (OTCBB: GAMR) busy with a number of major projects over the first half of 2011.

Prior to being named last week as part of a joint venture that is managing the closing of nearly 400 Borders bookstore locations in the United States and Puerto Rico, Great American Group had already completed several projects across the nation, including:

  • Marketing 41 Metropark retail properties across 21 states through GA Keen Realty Advisors, which found retailers to purchase all of the former high-end clothing company's retail leases in less than two weeks.
  • Hosting a live Webcast auction that included rare vehicles along with denim, apparel and equipment for Rock & Republic Enterprises, Inc., a wholesaler and retailer of "avant-garde" apparel that filed for Chapter 11.
  • Joining Danbury Sales of Toronto in a joint venture to conduct an auction of pressroom, bindery, prepress and other printing equipment and supplies for Printcrafters, Inc. of Canada — a major offset printer based in Winnipeg, Manitoba that closed its doors in April.
  • Marketing one fee-owned retail site and several leased properties previously operated by Robb & Stucky, a high-end furniture company that filed for bankruptcy earlier this year, and assisting TJX Companies, Inc. in the marketing and disposition of 20 former AJ Wright sites throughout the United States — both through GA Keen.

Although the company generates more headlines through the liquidation of assets from bankrupt companies and the disposition of distressed properties, Great American Group's CEO says his company also offers many services to help companies survive the current economy.

"We conduct auctions for private companies and public agencies so they can generate revenue through the sale of used or unneeded assets, and our retail professionals can also help companies with store set-ups and assist them with their inventory mix," said Andrew Gumaer, CEO of Great American Group.

"Through GA Keen Realty Advisors, we provide financial and real estate consulting, providing restructuring plans, soliciting new capital sources and helping retailers with lease restructuring and lease renegotiations," Gumaer said. "We also help healthy companies, too. We recently worked with Dollar General to help it identify 1,000 locations, and our GA Capital division can provide retailers with additional liquidity over and above what their traditional lenders are offering."

Gumaer notes that while the economic recession is part of what's driving the current level of retail liquidations, overexpansion during the early to mid-2000s has also played a role.

"When the economy was stronger, lenders were more willing to partner with companies going through difficult times," he said. "In our current economic environment, banks are reluctant to work with troubled companies."

For more information about asset disposition, valuation and appraisal services available through Great American Group, or for a complete list of current vertical or live website auctions currently scheduled, visit the company's website at www.greatamerican.com.

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About Great American Group

Great American Group, LLC, is a leading provider of asset disposition solutions and valuation and appraisal services to a wide range of retail, wholesale and industrial clients, as well as lenders, capital providers, private equity investors and professional service firms. Great American Group has offices in Atlanta, Boston, Chicago, Dallas, London, Los Angeles, New York and San Francisco. For more information, contact (818) 884-3737 or visit www.greatamerican.com.

Great American Group
Laura Drummond, Vice President of Marketing
847-444-1400 ext. 2312
ldrummond@greatamerican.com
or
Mulberry Marketing Communications
Ron Whittington
904-355-8680
rwhittington@mulberrymc.com

Source: Great American Group, LLC

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