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GA Europe to operate Suits You Stores
29 Oct '10
1 min read
Great American Group announced that its subsidiary, GA Europe, will serve as the retail agent to advise the administrator on Specialty Retail Group Limited trading and retail operations.
SRG, doing business as Suits You, has gone into administration having been the subject of a Creditors Voluntary Agreement in February 2010. However, sales in 2010 have further declined, and at an accelerated rate in recent months.
SRG has been sold for an undisclosed sum to GA Europe and Zolfo Cooper appointed as administrators. GA Europe will act as retail agent to advise the administrator on SRG's trading and retail operations.
"We are pleased with the traction we are now experiencing with our new European operations. Establishing this division was one of our strategic initiatives backed by our financial position from becoming a public company last year," said Andy Gumaer, CEO of Great American Group.
GA Europe, a subsidiary of Great American Group, operates out of Mayfair, London and works in partnership with retailers and their financial stakeholders across Europe to resolve complex or distress situations.
SRG, doing business as Suits You, has gone into administration having been the subject of a Creditors Voluntary Agreement in February 2010. However, sales in 2010 have further declined, and at an accelerated rate in recent months.
SRG has been sold for an undisclosed sum to GA Europe and Zolfo Cooper appointed as administrators. GA Europe will act as retail agent to advise the administrator on SRG's trading and retail operations.
"We are pleased with the traction we are now experiencing with our new European operations. Establishing this division was one of our strategic initiatives backed by our financial position from becoming a public company last year," said Andy Gumaer, CEO of Great American Group.
GA Europe, a subsidiary of Great American Group, operates out of Mayfair, London and works in partnership with retailers and their financial stakeholders across Europe to resolve complex or distress situations.
Great American Group
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