Economic Conditions Keep Great American Group Busy During First Half of 2011
Prior to being named last week as part of a joint venture that is
managing the closing of nearly 400
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.
Danbury Salesof Torontoin 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, Manitobathat 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
"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,
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
847-444-1400 ext. 2312
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