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BRIEF-Stage Stores to acquire selected assets of Gordmans
2017年3月30日 / 下午5点07分 / 8 个月前

BRIEF-Stage Stores to acquire selected assets of Gordmans

March 30 (Reuters) - Stage Stores Inc

* Stage Stores to acquire selected assets of Gordmans

* expect Gordmans business will be accretive to earnings

* intends to fund transaction and related investments from existing cash and availability under its credit facility

* Stage subsidiary will, subject to exceptions in purchase agreement, acquire a minimum of 50 Gordmans Store leases

* acquisition expands Stage’s portfolio with “addition of complementary concept and customer demographics in new midwest markets”

* “plan to maintain Gordmans brand and look forward to welcoming a significant number of Gordmans employees to our company”

* substantially all of remaining assets at Gordmans’ remaining 48 stores, other facilities expected to be liquidated by Tiger Capital and Great American

* Barclays acted as exclusive financial advisor to Stage Stores

* unit prevailed in its bid to acquire select assets of Gordmans Stores, Inc. through a bankruptcy auction

* unit to have rights to assume leases for additional 7 Gordman Stores; to buy all of Gordmans’ inventory, other assets at 57 store locations

* Cravath, Swaine & Moore LLP and McAfee & Taft, P.C. served as legal counsel to Stage Stores Source text for Eikon: Further company coverage:

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