B. Riley Financial
May 12, 2016
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B. Riley Financial's Great American Group and Tiger Capital Group to Support Previously Announced Closure of 113 Aéropostale Stores Across the U.S.

LOS ANGELES, May 12, 2016 /PRNewswire/ -- A joint venture between Great American Group (GA) and Tiger Capital Group announced today that it has partnered with Aéropostale, Inc., (OTCQX: AROPQ) a mall-based specialty retailer of casual apparel for young women and men, to facilitate the orderly exit of 113 of its stores and factory outlets across the U.S. These are the same closures announced on May 4, 2016, in conjunction with Aéropostale's voluntary Chapter 11 filings.

As previously disclosed, sales at the 113 closing locations began on May 7, 2016 and will last only until the respective stores' merchandise and fixtures have been sold. To see a list of the closing Aéropostale locations in the U.S., please click here. It continues to be business as usual at all other Aéropostale locations.

Great American Group is a leading provider of advisory and valuation services, asset disposition and auction solutions, and a subsidiary of B. Riley Financial, Inc.(NASDAQ: RILY). Tiger Capital Group provides comprehensive valuations, disposition services, capital infusions, and operational expertise to companies in times of growth, distress or transition.

"Our deep history of working with specialty apparel retailers such as Aéropostale has given us the experience to quickly and efficiently exit these locations, and assist Aéropostale in optimizing its store footprint," said Scott Carpenter, President of GA's Retail Solutions division.

"This is a rare opportunity for customers to take advantage of significant savings on some of their favorite apparel and accessories," stated Michael McGrail, Chief Operating Officer of Tiger Capital Group. "Following this sale process, Aéropostale shoppers will still find their favorite fashions at over 600 ongoing Aéropostale stores nationwide and at Aéropostale.com."

 

About Aéropostale, Inc.

Aéropostale, Inc. is a specialty retailer of casual apparel and accessories, principally serving young women and men through its Aéropostale® and Aéropostale Factory™ stores and website and 4 to 12 year-olds through its P.S. from Aéropostale stores and website. The Company provides customers with a focused selection of high quality fashion and fashion basic merchandise at compelling values in an exciting and customer friendly store environment. Aéropostale maintains control over its proprietary brands by designing, sourcing, marketing and selling all of its own merchandise. As of May 1, 2016 the Company operated 739 Aéropostale® stores in 50 states and Puerto Rico, 41 Aéropostale stores in Canada and 25 P.S. from Aéropostale® stores in 12 states. In addition, pursuant to various licensing agreements, the Company's licensees currently operate 322 Aéropostale® and P.S. from Aéropostale® locations in the Middle East, Asia, Europe, and Latin America. Since November 2012, Aéropostale, Inc. has operated GoJane.com, an online women's fashion footwear and apparel retailer.

About Great American Group, LLC

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.

About Tiger Group

Tiger Group provides asset valuation, advisory and disposition services to a broad range of retail, wholesale, and industrial clients. With over 40 years of experience and significant financial backing, Tiger offers a uniquely nimble combination of expertise, innovation and financial resources to drive results. Tiger's seasoned professionals help clients identify the underlying value of assets, monitor asset risk factors and, when needed, provide capital or convert assets to capital quickly and decisively. Tiger's collaborative, straight-forward approach is the foundation for its many long-term 'partner' relationships and decades of success. Tiger maintains domestic offices in New York, Los Angeles, Boston, Chicago, and San Francisco, and international offices in Sydney, Perth, and Brisbane, Australia. To learn more about Tiger, please visit www.TigerGroup.com.

SOURCE Tiger Capital Group