Great American Group selected as stalking horse bidder for Alco stores

Los Angeles --Great American Group has been selected as a stalking horse bidder in the potential liquidation of Alco Stores, which operates 198 general merchandise discount stores in 23 states. Great American is a leading provider of asset disposition and auction solutions, advisory and valuation services, capital investment, and real estate advisory services.



Alco filed for Chapter 11 bankruptcy protection Oct. 13, 2014, and is seeking to find a "going concern" buyer of the business.



If Alco is unsuccessful in securing a buyer of the business, a bankruptcy auction will take place in mid-November 2014 with Great American Group along with joint venture partners SB Capital and Tiger Capital selected as the stalking horse bidder.



"Great American has extensive experience working with very large retailers and creditors in handling complicated and sensitive situations such as the Alco assignment," said Scott Carpenter, president of GA Retail Solutions.



Great American recently was selected for retail liquidation assignments for Naartjie Custom Kids, and Love Culture.



In the Naartjie engagement, Great American was selected to handle the liquidation of all 56 Naartjie locations in the United States containing merchandise with an approximate retail value of $28 million.



In the Love Culture engagement, Great American was selected to manage store closing sales at all 55 locations containing merchandise with a retail value of approximately $24 million.