SB360 AND HILCO TO CONDUCT GOING OUT OF BUSINESS SALES AT ALL 54 A’GACI STORES
SAN ANTONIO, Texas – August 8, 2019 – A’GACI, an innovator in the fast fashion apparel industry since 1971, is closing all 54 stores in the US and Puerto Rico. A’GACI filed for Chapter 11 Bankruptcy protection this morning and retained a joint venture of SB360 Capital Partners (www.sb360.com) and Hilco Merchant Resources (www.hilcomerchantresources.com) to liquidate the stores. “Going Out of Business” Sales begin today in all A’GACI locations.
San Antonio-based A’GACI developed a loyal customer base by offering affordable, trendy styles that reflect the feminine, confident style of today’s young women.
A’GACI shoppers will find significant savings storewide with discounts of up to 50% off the original price on more than $21,000,000 of merchandise. Everything in A’GACI’s entire collection is on sale including dresses, tops, bottoms, jeans, shoes, and accessories. Customers shopping the first few days of the sale will find full selections of merchandise in complete size ranges. The stores will also receive all the merchandise originally designated to support the A’GACI ecommerce store which has already closed.
Commenting on the value customers will realize from shopping the Sale, a spokesperson for the joint venture said, “A’GACI shoppers will be surprised at the selection of highly desirable product in all 54 stores. All their favorite items are on sale, and with discounts up to 50% off original prices, we anticipate crowds seldom seen outside of the holiday shopping season. The timing of this Sale coincides with the Back-to-School season, and we expect the Sale to wrap up quickly.”
About SB360 Capital Partners, LLC – SB360 Capital Partners (www.sb360.com), a Schottenstein Affiliate, helps businesses manage change, restructure assets, and turn around dwindling profitability. SB360 makes equity investments to infuse capital for growth opportunities, fund turnarounds, and provide liquidity to businesses experiencing change. SB360 acquires assets of all types including inventory, fixed assets, intellectual property, real estate, and complete business units. The firm’s asset disposition services range from providing guaranteed asset value recovery to acting as a liquidation consultant. Additionally, SB360 has entities engaged in real estate advisory, commercial real estate investment, and the operation of the SBC Logistics Asset Recovery Center in Columbus. The principals of SB360 hold extensive commercial interests in national retail and wholesale operations; internationally recognized consumer brands; commercial, residential, and industrial real estate properties; and financial service operations.
About Hilco Merchant Resources – Hilco Merchant Resources (www.hilcomerchantresources.com) provides a wide range of analytical, advisory, asset monetization, and capital investment services to help define and execute a retailer’s strategic initiatives. Hilco Merchant Resources’ activities fall into several principal categories including acquisitions; disposition of underperforming stores; retail company or division wind downs; event sales to convert unwanted assets into working capital; facilitation of mergers and acquisitions; interim company, division or store management teams; loss prevention; and, the monetization of furniture, fixtures and equipment. Additionally, HMR now includes among its subsidiaries the nation’s premier fixture and equipment liquidation firm, Hilco Fixed Asset Recovery (www.hilcoffe.com), an innovative sale locater website called Shop Genius (www.shopgenius.com), as well as the popular online retail and daily deal e-commerce company, Deal Genius, LLC (www.dealgenius.com). Hilco Merchant Resources is part of Northbrook, Illinois based Hilco Global (www.hilcoglobal.com), one of the world’s leading authorities on maximizing the value of business assets by delivering valuation, monetization and advisory solutions to an international marketplace.
About A’GACI – Founded in 1971 in San Antonio, Texas, A’GACI is a lifestyle brand catering to young fashion lovers who are sexy, feminine and confident in their style. A’GACI owns and operates 54 stores in the U.S. A’GACI has significant brand recognition within the fashion blogger community and is known as the place for value-priced, trend-right fashions. To find out more about A’GACI, please visit www.agacistore.com.