SOURCE: Great American Group

Great American Group

January 19, 2010 11:19 ET

Great American Group®* Hires Gavin George to Lead GA Asset Advisors, LLC as Managing Director

WOODLAND HILLS, CA--(Marketwire - January 19, 2010) - Great American Group, Inc. (OTCBB: GAMR) ("Great American Group" or the "Company"), a leading provider of asset disposition, valuation and appraisal services, today announced the appointment of Gavin George as Managing Director of GA Asset Advisors, LLC.

"We are excited to welcome Gavin to the Great American team," said Scott Carpenter, Executive Vice President of Great American Group. "His experience, dedication to excellence and outstanding reputation will allow us to grow and expand our services into the greater European market quickly and efficiently."

GA Asset Advisors, a subsidiary of Great American Group, operates in partnership with retailers and their financial stakeholders across Europe. Its innovative solutions for the retail sector include operational and financial restructuring, distressed debt and accelerated merger and acquisition consulting. The team will focus on:

--  Helping retailers downsize where necessary and maximize recovery on
    closing outlets, through stock liquidation and store closures; and
--  Leveraging the significant financial resources and expertise of the
    company to provide working capital to address short-term restructuring

"The macroeconomic environment in the U.K. and Europe is likely to remain very tough, both for consumers and retailers, for at least the next five years. In a retail market of overcapacity and shrinking household discretionary incomes, it is inevitable that further restructurings and administrations will follow," said Mr. George. "GA Asset Advisors' innovative solution set, financial muscle and retail track record will be attractive to both solvent and insolvent companies throughout Europe. I'm very excited about the market opportunity and am looking forward to building a team that will provide an interesting alternative to the already established options."

Mr. George brings 25 years of experience in the retail sector, having worked as an operator, consultant and restructuring professional. Prior to joining GA Asset Advisors, he spent six months serving as Chief Restructuring Officer for a distressed retailer. He previously was a Partner and Head of Retail for Ernst & Young, where he led a number of the Firm's major commercial relationships, including Tesco, Kingfisher and DSGi, and also led the EMEIA wide retail advisory capability. Mr. George originally trained as a chartered accountant before working in operational retailing at Dixons (now DSGi) and then moving into management consulting.

About Great American Group, Inc.

Great American Group 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. The firm is best known for some of its' high profile retail liquidations such as Circuit City, Linens N Things, Mervyn's and KB Toys. Headquartered in Woodland Hills, CA., the Company has offices in Atlanta, Boston, Chicago, Dallas, Los Angeles, New York and San Francisco For more information, please visit


* Great American Group and the Eagle Design are trademarks registered in the US Patent and Trademark Office and are exclusive property of Great American Group, LLC.

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