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Monday, May 29, 2023

Great American to Liquidate HHGregg, Gordmans Locations

Liquidation auction house Great American Group will sell the inventory of two closed retail chains, the company announced Monday. Great American, a unit of B. Riley Financial in Woodland Hills, in conjunction with Tiger Capital Group, will sell the inventory from 132 HHGregg stores. HHGregg which sold electronics, furniture and home goods, entered Chapter 11 bankruptcy in March and plans to go out of business. Separately, Great American and Tiger Capital will liquidate the inventory of 48 Gordmans stores. The Omaha, Neb.-based chain filed for Chapter 11 bankruptcy on March 27. Stage Stores has purchased the remaining 57 Gordmans locations and plans to keep them open. Shares of B. Riley Co., parent of B. Riley Financial, closed Monday up 15 cents, or 1 percent, to $14.95 on the Nasdaq.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

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