Tiger Capital Group and Great American Group to Support Previously Announced Closure of All 41 Aéropostale Stores in Canada
NEW YORK (5/13/16)– A joint venture between Tiger Capital Group and Great American 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 all 41 of its stores and factory outlets across Canada. These are the same closures announced on May 4, 2016, in conjunction with Aéropostale’s voluntary Chapter 11 filings.
Tiger Capital Group provides comprehensive valuations, disposition services, capital infusions, and operational expertise to companies in times of growth, distress or transition. 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).
“Our deep history of working with specialty apparel retailers such as Aéropostale has given us the experience to quickly and efficiently exit these locations,” 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, Canadian Aéropostale shoppers will still find their favorite fashions at over 600 ongoing U.S. Aéropostale stores and at Aéropostale.com.”