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, along with Shoptalk, will host the 9th Annual Retail Summer School 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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Gendis sells SAAN Stores Ltd

Winnipeg, Manitoba - (Press Release) - Gendis Inc. (TSX:GDS) announces the sale today, for nominal consideration, of all of the shares of its wholly-owned subsidiary SAAN Stores Ltd. to SAAN Acquisition Corp. of Toronto, Ontario. SAAN Acquisition Corp. represents an investor group experienced in retail operations and financing world-wide, which is associated with Avalon Group, Ltd. of New York City.

Earlier this week, Gendis announced that it designated SAAN as a discontinued operation due to the expectation of its sale in the fourth quarter, and recorded the fair value of SAAN at nil, with a resulting write-down of $38.9 million after estimated selling costs. Gendis also, earlier this week, disclosed its potential exposure under lease guarantees, consequential upon sale of SAAN. Gendis now expects the selling costs to increase by an additional $700,000 as a result of concluding the sale of SAAN. Under the terms of the sale agreement, Gendis has agreed to advance a $2 million interest-bearing loan to SAAN on a secured basis late in the first quarter of fiscal 2006.

The lawsuit commenced by a prospective purchaser has been discontinued without costs.

Gendis has now exited the retail industry and, other than as noted above, faces no additional exposure