Nicole Crafts is exiting its retail operations by retaining the retail and real estate divisions of Gordon Brothers to close its A.C. Moore stores as part of a broader strategic plan. The Michaels Companies will assume leases for up to 40 stores.
Barneys New York has secured approximately $218 million in new financing from Brigade Capital Management and B. Riley Financial to facilitate a going concern sale process.
The Wall Street Journal reported Barneys New York has received approval from senior lenders Wells Fargo and TPG to request junior loans from Hilco and Gordon Brothers as it prepares to file for Chapter 11 protection.
Shopko was unable to find a buyer for its go-forward business as a going concern. Gordon Brothers will oversee the liquidation process which is expected to conclude 10-12 weeks from now.
Charlotte Russe Holdings and its subsidiaries entered discussions with prospective bidders for a going-concern sale of the company to continue its brick-and-mortar and online platforms.
Real estate services firm JLL and restructuring advisors Gordon Brothers formed a strategic alliance to elevate both firm’s services for retailers and their investors.