Daily News: February 27, 2012

Tiger Conducts GOB Sale for North Cove Outfitters

Tiger Capital Group is conducting the going-out-of-business sale for North Cove Outfitters, a 24-year-old outdoor retailer in New England.

The liquidation includes outdoor apparel, fly rods, kayaks and canoes, camping and hiking equipment and more.

Named “Retailer of the Year” by Canoe & Kayaking magazine in 1997, North Cove Outfitters was founded in 1988 by outdoorsmen Norm Cavallaro and Ed Carney, who grew the business into one of Southern New England’s premier outfitters, promoted a popular outdoor film festival and became nationally known advocates for canoeing and kayaking. However, the store suffered a serious blow when discretionary spending collapsed in the wake of the 2008 financial crisis. This year’s extraordinarily mild winter, meanwhile, all but killed sales of cold-weather apparel. At the time the sale began, North Cove had 40 full- and part-time employees.

“After several attempts to save their beloved business, the owners turned to Tiger Capital Group as a trusted advisor for help with the voluntary wind down of the operations,” said John Cronin, director of planning and analysis at Tiger Capital Group. “We are working closely with the owners and employees on an orderly closing that befits North Cove’s stellar reputation.”