News

 

STORE CLOSING SALES BEGIN IMMEDIATELY AT 184 SELECT NATIONAL STORES

NORTHBROOK, Illinois – October 12, 2018 – National Stores will begin a store closing sale at 184 of its remaining locations today. The store closing sales are being conducted by a joint venture consisting of Hilco Merchant Resources, Gordon Brothers and SB360 Capital Partners.

SECOND AVENUE CAPITAL PARTNERS LAUNCHES LENDING PLATFORM

BOSTON, Massachusetts – April 16, 2018 – Second Avenue Capital Partners, LLC, (www.secondavecp.com) announces its formation as a new lending platform specializing in asset-based loans for the broader retail and consumer product industry. Established by SB360 Holdings,...

JUDGE APPROVES ORDER TO LIQUIDATE ALL NINE WEST CANADA STORES

(TORONTO, Ontario) – April 13, 2018 – A Canadian Bankruptcy Court judge issued an order Wednesday approving the liquidation of assets and the closing of all 35 locations of Nine West Canada. Nine West Canada LP and its General Partner Jones Canada, Inc. (together,...

Jay Schottenstein to be Honored with the T. Kenyon Holly Award

WALTHAM, Massachusetts – July 29, 2016 – Two Ten Footwear Foundation, the national charitable foundation of the U.S. footwear industry, announced plans today for its 77th annual VIP Dinner and Gala, “One Team.” Scheduled for Wednesday, November...

An Iconic Store for the Avid Outdoorsman Closing Forever

CLARKSVILLE, Tennessee – June 28, 2016 – After 53 years in business, Clarksville’s iconic store Grandpa’s Outdoors is closing their doors forever. Mrs. Jackie Langford, Vice President of Grandpa’s, located at 1894 Fort Campbell Boulevard...

SBC Logistics Exhibits at RILA Conference

COLUMBUS, Ohio – February 27, 2016 – SBC Logistics will exhibit at the RILA (Retail Industry Leaders Association) 2016 Retail Supply Chain Conference in Dallas, Texas, February 28th through March 2nd. The Retail Supply Chain Conference, hosted by RILA for...

Joyce Leslie, Inc. Files Motion for a Sale of Its Assets

MOONACHIE, New Jersey – January 18, 2016 – Joyce Leslie, Inc. announced today that it had filed a motion on January 14th for court approval to set bid procedures and an auction date for a sale of most of its assets. Joyce Leslie, Inc. (the...

SB Capital Group Named Stalking Horse by Cache Inc.

GREAT NECK, New York – February 4, 2015 – SB Capital Group, LLC, is part of a joint venture chosen as the stalking horse bidder for an auction to be held in the event of liquidation by women’s dress and formalwear retailer Cache Inc. of New York....

Albertsons and Safeway Complete Merger Transaction

BOISE, Idaho and PLEASANTON, California – January 30, 2015 – AB Acquisition LLC and Safeway Inc. (NYSE: SWY, “Safeway”) announced today that they have completed their proposed merger. Under the terms of the merger agreement first announced and...

ALCO Chooses SB Capital Group As Stalking Horse

GREAT NECK, New York – October 21, 2014 – A joint venture consortium including SB Capital Group, LLC, has been chosen as the stalking horse bidder for an auction to be held in the event of liquidation by ALCO Stores, Inc. of Coppell, Texas. If successful...

Uncle Lee’s in Greenville is Closing Their Doors Forever

GREENVILLE, Kentucky – October 20, 2014 – After nearly 40 years in business, Uncle Lee’s on Main Street in Greenville is closing their doors. Mr. Lee Fauntleroy, President and owner of the iconic local store, announced his decision today to retire....

French Broad Place, Luxury Living and a Whole Lot More

CHARLESTON, South Carolina – June 26,2014 – xCelsior French Broad, LLC, a joint venture of SB Capital Group, LLC, is proud to announce its acquisition of French Broad Place, a luxury condominium development in the heart of downtown Brevard. Only minutes...

Safeway and Albertsons Announce Definitive Merger Agreement

PLEASANTON, California and BOISE, Idaho – March 6, 2014 – Safeway Inc. (NYSE: SWY) and Albertsons announced today a definitive agreement under which AB Acquisition LLC (“AB Acquisition”) will acquire all outstanding shares of Safeway (the...

Living the Good Life Just Got Easier with Palmetto Place

CHARLESTON, South Carolina – January 21,2014 – SB Capital Group, LLC, in a joint venture with xCelsior Ventures, LLC, has acquired 51 condominium units at Palmetto Place, a condominium project located in Berkeley County near the intersection of Clements...

ACO Hardware to Transition Stores to Ace Affiliation

FARMINGTON HILLS, Michigan – January 8, 2014 – ACO Hardware, Michigan’s largest independent home and hardware store chain located throughout the Detroit market and beyond will join Ace Hardware, the nation’s largest hardware cooperative. ACO...

Loehmann’s Going Out of Business Sales Start January 9

NEW YORK, NY – January 8, 2014 – After almost 93 years, Loehmann’s, the premier upscale off-price specialty retailer that originated the concept, is going out of business. Yesterday, the U.S. Bankruptcy Court in Manhattan approved an order...

Bakers Footwear Closing 150 Stores Nationwide

BOSTON, Massachusetts – November 9, 2012 – SB Capital Group, LLC is part of a joint venture chosen to liquidate over $30 million of inventory from 150 Bakers Footwear Group stores nationwide. The “Going Out of Business” sales at the mall-based...

Wind-down Sale in Remaining Fashion Bug Locations

BENSALEM. Pennsylvania – September 4, 2012 – SB Capital Group, LLC, announced today the formation of a joint venture to conduct a sale of all inventory in the 568 stores of women’s retailer Fashion Bug, a unit of Charming Shoppes, Inc., a recently...

Entire Inventory of The Russ Companies Will Be Sold

GREAT NECK. New York – August 10, 2011 – SB Capital Group, LLC, Worldwide Merchandise Resources Corporation, and Just Inventory Solutions, LLC announced today the formation of a joint venture to dispose of all remaining inventory of iconic gift maker The...

Borders Bookstores Going Out of Business

ANN ARBOR, Michigan – July 21, 2011 – Under authority of the U.S. Bankruptcy Court, giant bookseller Borders Group Inc. will begin liquidating its 399 Borders book stores nationwide. Over $700 Million of inventory including books, magazines, music, movies...

Borders is Closing Stores in 35 States and Puerto Rico

CHICAGO, Illinois – February 17, 2011 – Under authority of the U.S. Bankruptcy Court, store closing sales are being conducted at 200 Borders book stores in 35 states and Puerto Rico. Over $350 Million of inventory including books, magazines, music, movies...

Lack’s Furniture is Going Out of Business

VICTORIA, Texas – November 19, 2010 – After more than 72 years in business, Lack’s Stores, Inc., one of the largest independently-owned retail furniture chains in the United States, announced the closing of all 36 stores in the chain. A U.S....

Movie Gallery Canada to Close 181 Stores

TORONTO, Ontario, Canada – June 11, 2010 – Movie Gallery Canada announced the closing of all 181 Movie Gallery and VHQ stores throughout Canada with sales beginning Satruday, June 12th. Inventory valued at approximately $46,000,000 will be completely...

Circuit City’s Historic $1.8 Billion Electronics Liquidation

RICHMOND, Virginia – January 16, 2009 – Circuit City Stores Inc., the nation’s second largest consumer electronics retailer, announced today the decision to go out of business and close all 567 stores throughout the United States. Circuit City...

Steve & Barry’s to Close All Remaining 173 Stores

PORT WASHINGTON, New York – November 21, 2008 – It was announced today that Steve & Barry’s, a national casual apparel retailer offering high quality clothing at “astonishing low prices”, will close its remaining 173 stores...

After Almost 60 Years, Mervyn’s Says Good-Bye

HAYWARD, California – October 30, 2008 – SB Capital Group, LLC, and other leading national retail liquidation and asset recovery firms, announced today that they have formed a joint venture to manage a court-ordered bankruptcy liquidation sale of...

Housewares Retailer Linens-N-Things Throws in the Towel

NORTHBROOK, Illinois – October 16, 2008 – Linens-N-Things store closing sales began Friday, October 17, at the remaining 371 stores in 48 states. Prices will be slashed on more than $1 billion dollars of high quality, famous brand products for the home....

Ultimate Electronics Engages SB Capital Group Consortium

DENVER, Colorado – April 20, 2005 – Ultimate Electronics, Inc. announced that following a public auction for the company’s assets, the company has engaged SB Capital Group as part of a consortium of liquidating agents to manage the sale of assets in...

SB Capital Group Leads Joint Venture to Liquidate FAO, Inc.

KING OF PRUSSIA, Pennsylvania – October 12, 2003 – The U.S Bankruptcy Court for the District of Delaware has approved the appointment of a joint venture led by SB Capital Group, LLC to liquidate all FAO Schwarz and Zany Brainy stores nationwide. Clearance...