Transactions

  • October 30, 2017 - Roberta Roller Rabbit has been sold to an investor group

    Avalon Net Worth has identified an investor group for the acquistion of Roberta Roller Rabbit... 

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  • March 31, 2017 - Atlantic Street Capital portfolio's company, Alex Apparel Group, Inc., have acquired Sally Lou Fashions

    Avalon Net Worth has identified a strategic target company for Atlantic Street Capital and its portfolio company, Alex Apparel Group, to aquire... 

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  • March 02, 2017 - ANW has advised on the sale of Jaclyn, Inc. (OTCMKTS:JCLY), to an affiliate of Golden Touch Imports, Inc.

    Jaclyn, Inc. (OTCMKTS:JCLY), a $175 million (revenues) multi-line fashion and accessory firm, has been sold to an affiliate of Golden Touch Imports, Inc. ... 

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  • February 27, 2017 - Molli Partners LLC has sold its four shoe brands to Teshoeque LLC

    Molli Partners LLC has completed a sale of it's major brands to Teshoeque LLC... 

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Noteworthy

  • October 17, 2017 - Global Private Wealth Dallas Forum on Macroeconomics

    At the 2017 GPW Dallas Forum our Co-CEO, Lynda Davey, spoke alongside other prominent industry executives regarding the current

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  • July 25, 2017 - Retail Summer School at Columbia Business School

    Richard Jaffe, a Managing Director at Avalon, will host the 9th Annual Retail Summer School along with Shoptalk at

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  • May 10, 2017 - Retail’s Private Equity Legacy: Big Debt, Big Problems

    In an article published by WWD magazine our Co-CEO, Jack Hendler, shares his insight on Private Equity in the

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  • April 04, 2017 - Why Millennials and Mid-Market Firms Are a Fashion Match

    Apparel magazine published an article where our Co-CEO, Jack Hendler, discusses Milennials and Retail...    Read More...

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Fashion Cents Shops for Sale

(Press Release) - Norstan Apparel Shops, Inc., which does business under the name of "Fashion Cents", announced today that it has entered into an agreement to sell substantially all of its store locations, inventory and other assets to Fashion Cents Acquisition, LLC, for approximately $14 million in cash plus the assumption of more than $12 million of operating lease liabilities, in a transaction that must still be approved by the Bankruptcy Court and the company's major creditors. -Avalon Group, Ltd. is representing Fashion Cents Acquisition, LLC in this transaction.

Norstan is a leading fashion retailer of women's apparel and accessories to low and middle income consumers. The company operates approximately 230 stores under the "Fashion Cents" name in 20 states in the South, Midwest and Mid-Atlantic regions.

Norstan has been operating under Chapter 11 of the Bankruptcy Code since April 8, 2005. Abacus Advisors has been assisting Norstan in the process of locating an acquisition partner and has conducted extensive marketing efforts which will culminate in an auction to determine whether other parties, individually or in the aggregate, are willing to pay more than the current proposal.

"The proposed acquisition, which is subject to higher and better offers, is certainly the best option currently available to Norstan," observed Alan Cohen, chairman of Abacus. "The deal will provide cash to creditors, jobs for employees, and a continued presence of "Fashion Cents" stores in most of the communities they currently serve," continued Mr. Cohen.