Forgot Password?

Sign Up for our

NEWSLETTER

TRY OUR SERVICES TODAY!

I am a
In the
Interested in
  • INDUSTRY NEWS

    • On October 22, 2014, it was reported, Great American Group has been selected as a stalking horse bidder in the potential liquidation of Alco Stores, which operates 198 general merchandise discount stores in 23 states. Great American is a leading provider of asset disposition and auction solutions, advisory and valuation services, capital investment, and real estate advisory services. Alco filed for Chapter 11 bankruptcy protection Oct. 13, 2014, and is seeking to find a "going concern" buyer of the business. If Alco is unsuccessful in securing a buyer of the business, a bankruptcy auction will take place in mid-November 2014 with Great American Group along with joint venture partners SB Capital and Tiger Capital selected as the stalking horse bidder. "Great American has extensive experience working with very large retailers and creditors in handling complicated and sensitive situations such as the Alco assignment," said Scott Carpenter, president of GA Retail Solutions.
    • On October 21, 2014, it was reported, Mattress Firm Holding Corp. announced the completion of its acquisition of The Sleep Train, the largest West Coast-based bedding specialty retailer, for $425 million. The combined business operates more than 2,000 mattress specialty retail stores and 70 distribution centers across 40 states, and further solidifies Mattress Firm's standing as the nation's largest mattress specialty retailer.
    • On October 20, 2014, despite a push from activist investor Elliott Advisors, which favors Dollar General's bid to acquire Family Dollar Stores, Family Dollar today announced it will put the offer from Dollar Tree Stores to a shareholder vote. The company has pegged Oct. 30 as the record date determining which stockholders will be entitled to vote at the special meeting. No specifics yet on the date, time and location of the shareholder meeting. Family Dollar said it is preparing a proxy statement and prospectus, which will be filed with the Securities and Exchange Commission ahead of the meeting. Late last week, Elliott Advisors UK Ltd nominated seven candidates for election to Family Dollar Stores board. The firm has argued that Dollar General's bid offers more value to shareholders.
    • On October 20, 2014, department store company Sears Holdings announced two deals that will yield new cash injections and may help the battered retailer alleviate some of its financial woes. The hedge fund run by Sears CEO Edward Lampert bought Sears Canada shares, which supplied $169 million, the company said on Monday. Sears is also leasing seven stores in the Northeast to U.K. clothing retailer Primark. Although the financial details of the Primark deal were not disclosed, the company said that in the next 12 to 18 months, about 520,000 square feet of retail space will be leased to Primark. Sears will share space in six of the seven leases. The company will end its presence in Philadelphia's Prussia Mall, which will be replaced by Primark. In Staten Island Mall, Sears will share the space with incoming tenant Primark. Sears will announce the other five locations later.