A&G Real Estate Partners is marketing stores and warehouses across the U.S. on behalf of the stalking-horse bidder for home furnishings retailer American Signature, Inc., parent of Value City Furniture and American Signature Furniture. The U.S. Bankruptcy Court for the District of Delaware has approved the liquidation plan, including certain lease-designation rights, of stalking-horse bidder ASI Purchaser LLC.
A&G is continuing to market 89 leased and fee-owned retail stores and warehouse distribution centers across 15 states: Delaware, Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Michigan, Missouri, North Carolina, New York, Ohio, Pennsylvania, South Carolina, Virginia and West Virginia. Two of the stores and two warehouses are fee-owned; the rest are leased.
ASI Purchaser LLC is already accepting offers for private sales. “They will be strongly considered as part of this process,” said Emilio Amendola, co-president of A&G. “The retail boxes on offer are a strong expansion opportunity for healthy operators, as well as for landlords who want to creatively repurpose large-format spaces.”
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