WOODLAND HILLS, Calif.--(BUSINESS WIRE)--GA Europe, the European subsidiary of Great American Group, LLC (OTCBB: GAMR), a leading provider of asset disposition, valuation and appraisal services, has been appointed by the liquidator of Blockbuster Italy to liquidate stock in more than 100 of its stores.
GA Europe, whose appointment has been sanctioned by the courts, will now work closely with the liquidator and the existing Blockbuster operations team to clear through stock in these stores.
This is GA Europe’s first project in Italy. It will conduct a controlled liquidation sale in order to clear over €13 million of stock for the maximum benefit of creditors.
Blockbuster Italia was not included in the April 2011 sale of Blockbuster Incorporated to DISH Network, and had been losing money for some time. The business went into voluntary liquidation in June 2011, and attempts to find a buyer for the whole business proved unsuccessful. After the closure of the stores, its outlets will be taken on by other retailers or returned to landlords.
For more information about asset disposition, valuation and appraisal services available through Great American Group or GA Europe, visit the company’s website at www.greatamerican.com.
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About Great American Group, LLC
Great American Group, LLC, is a leading provider of asset disposition solutions and valuation and appraisal services to a wide range of retail, wholesale and industrial clients, as well as lenders, capital providers, private equity investors and professional service firms. Great American Group has offices in Atlanta, Boston, Chicago, Dallas, London, Los Angeles, New York and San Francisco. For more information, contact (818) 884-3737 or visit www.greatamerican.com.
About GA Europe
GA Europe is a 100 percent subsidiary of the publicly listed Great American Group, operating in partnership with retailers and their financial stakeholders across Europe to resolve complex or distressed situations. Over the last five years, Great American Group/GA Europe has handled over $10 billion of retail stock clearance and has provided nearly 4,000 appraisals.