B. Riley Financial and its retail liquidation affiliate were retained to assist in the restructuring and store rationalization of SALAMANDER in connection with the European shoe retailer’s recent insolvency.
B. Riley Financial, a diversified financial services platform, and its retail liquidation affiliate were retained to assist in the restructuring and store rationalization of SALAMANDER in connection with the European shoe retailer’s recent insolvency.
GA Europe, subsidiary of B. Riley Retail Solutions, is assisting with the optimization of Salamander’s store footprint in Germany, Hungary and Austria. Salamander is a manufacturer and retailer of footwear with inventory spanning a wide selection of shoes, including sandals, sneakers, boots for men, women and children, as well as handbags, backpacks and other accessories.
In Germany, GA Europe is managing the sale of approximately €30 million ($32.8 million) in inventory across 77 Salamander and Klauser stores to finance the self-administration process and to support the reopening of its stores with fresh concepts and new inventory later this Fall.
“We are seeing more opportunities to support both healthy and stressed retailers as an advisor to help navigate a restructuring and as a provider of liquidity, whether to refresh concepts or finance monetization to creditors,” Scott Carpenter, CEO of B. Riley Retail Solutions, said. “With growing momentum in Europe, and Germany in particular, this engagement is another example of our ability to leverage our balance sheet to create a unique solution to support our clients while also generating attractive returns for our platform.”
