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.
Logo - http://photos.prnewswire.com/prnh/20150323/183973LOGO
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/b-riley-financials-ga-europe-has-assumed-control-of-significant-assets-of-dutch-ms-mode-nederland-bv-300341093.html
SOURCE Great American Group