Retail restructuring specialist acquires assets of Schoenenreus

GA Europe, a leading retail restructuring specialist and a division of Great American Group, LLC, has acquired the assets of Dutch apparel retailer Schoenenreus.

The company declared bankruptcy on January 29, 2015 and on March 2, 2015, GA Europe was appointed the successful bidder at auction by the bankruptcy court.

"Our timely acquisition of Schoenenreus demonstrates how ready access to capital, extensive retail operations experience and restructuring expertise provides us with a competitive advantage in solving complex challenges in the retail space," said Tino Bauer, managing director of GA Europe.

Backing up this decision, Scott Carpenter, president of Great American Group's retail solutions division, stated that "With over 25 successfully completed transactions in Europe since 2010, this transaction showcases our team's multi-discipline approach, combining our deep consumer retail expertise with the recently expanded advisory services and access to capital sources through our parent company, B. Riley Financial."

As announced by GA Europe, all 121 Schoenenreus retail locations in the Netherlands will begin going out of business sales on March, 9. GA Europe is currently engaged in dialogue with interested parties regarding taking over stores.