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 — A joint venture between Tiger Capital Group and Great American Group (GA) 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.”