Great American Group, an auction, liquidation and asset management firm, has announced the opening of the UK office of GA Asset Advisors situated in Moorgate in the City of London.
Great American Group, an auction, liquidation and asset management firm, has announced the opening of the UK office of GA Asset Advisors situated in Moorgate in the City of London.
GA Asset Advisors is a subsidiary of Great American Group.
Working together with Smith & Williamson, an adviser in retail restructuring, the collaboration will focus on helping retailers downsize where necessary, and maximize the recovery on closing outlets, through inventory liquidation and store closures.
The team will also advise on the retail sector covering operational and financial restructuring, distressed debt and accelerated M&A. GA Asset Advisors will also cover wholesale and industrial appraisal services as well.
Ryan Mulcunry, managing director of GA Asset Advisors, says: ‘We believe there is significant opportunity with the collaboration with Smith & Williamson, one of the UKs, major accounting firms with a strong restructuring and recovery practice. GA Asset Advisors will look to offer a more attractive alternative to the current restructuring options for both solvent and insolvent companies throughout Europe. In addition to maintaining our current relationships, we are excited about developing new ones as well.’
Barry Knight, head of retail at Smith & Williamson, adds: ‘We are excited about working with GA Asset Advisors and see significant opportunities for them in the UK marketplace. Of particular interest is the ability to utilize their skills in asset disposition and appraisal combined with our contacts in the stressed and distressed retail and consumer products debt markets.’
