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dELiA*s announces sale of Alloy brand
Jun '13
dELiA*s, Inc., a multi-channel retail company primarily marketing to teenage girls, announced the sale of its Alloy business to HRSH Acquisitions LLC d/b/a Alloy Apparel and Accessories.

The Company received $3.7 million in cash at the closing of the sale in exchange for certain assets relating to Alloy, and Alloy Apparel and Accessories assumed approximately $3.1 million in liabilities. dELiA*s, Inc. and Alloy Apparel and Accessories also entered into a related agreement under which the Company will provide certain transitional services to Alloy Apparel and Accessories for up to one year.

“We are pleased to have completed the sale of Alloy,” said Walter Killough, Chief Executive Officer of dELiA*s, Inc. “This transaction will enable us to focus our efforts exclusively on our dELiA*s brand as we work to improve our product offerings and enhance the overall customer experience. In addition, providing transitional services will allow us to offset certain overhead costs as we evaluate our cost structure going forward.”

Brian Lattman, Co-Head of HRSH Acquisitions LLC, will be assuming the role of President of the newly formed entity. Mr. Lattman will work closely with the Alloy management team to drive growth in the business through brand building and new customer acquisition.

Janney Montgomery Scott LLC acted as exclusive financial advisor to dELiA*s in connection with the transaction. Troutman Sanders LLP acted as legal advisor to dELiA*s. Lowenstein Sandler LLP acted as legal advisor to HRSH Acquisitions LLC.

About dELiA*s, Inc.

dELiA*s, Inc. is a multi-channel retail company primarily marketing to teenage girls. It generates revenue by selling apparel, accessories and footwear to consumers through direct mail catalogs, websites, and mall-based retail stores.

dELiA*s Inc

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