Finance & Capital Management

Boston - Gordon Brothers Group’s Valuation & Advisory Services Division and AccuVal-LiquiTec have entered into a merger to form Gordon Brothers-AccuVal.  The new group will operate as a wholly owned subsidiary of Gordon Brothers Group.

Rite Aid's pharmacy and front-end divisions helped the retailer post a 4.3% gain in same store sales for March. 

Toano, Va. – Despite bad publicity from a March 2015 “60 Minutes” report alleging carcinogenic materials in the laminate of some Chinese hardwood it sells, Lumber Liquidators beat Wall Street sales estimates in first quarter 2015. In a sales update, Lumber Liquidators said sales were $260 million, an increase of 6% from first quarter 2014.

Liquidation leaders in merger deal Retailers looking to realize maximum value when they close stores or liquidated inventory have a new ally following the merger of two industry leaders.

Gordon Brothers Group and AccuVal-LiquiTec announced that Gordon Brothers Group’s Valuation & Advisory Services Division and AccuVal-LiquiTec have entered into a merger to form Gordon Brothers-AccuVal.

The newly formed group will operate as a wholly owned subsidiary of Gordon Brothers Group, already one the world’s leading disposition and appraisal firms.

New York -- Belk Inc., the largest family owned and operated department store chain in the United States, is exploring strategic alternatives. The news was first reported by Reuters on Thursday, and was confirmed later in the day by the retailer in a statement issued to media outlets.
 

New York -- Investment firm TowerBrook Capital Partners is acquiring women’s apparel retailer J. Jill, which operates some 250 stores nationwide. TowerBrook is buying the company from Investment firm Arcapita and private equity firm Golden Gate Capital.  

In a statement, J. Jill CEO Paula Bennett noted that the retailer has just completed its best sales year in history and 12 quarters of consecutive growth.

Minneapolis — Target Canada announced that it will complete its inventory liquidation efforts and close the last of its 133 Canadian retail stores to the public on April 12.

Belk Inc. has hired Goldman Sachs to explore its strategic options, including the possibility of a sale that could value the family owned department store chain at as much as $4 billion, Reuters reports.

In response to the Reuters report, Belk issued a response saying that it had hired Goldman Sachs to help it explore all options for its future. Belk added that it expects to conclude its analysis in the next several months.

Belk operates about 300 stores in 16 Southern states.