Retail Industry
Industry: Email Alert RSS FeedRetail Brand Alliance sold its Casual Corner Group business to Gordon Brothers Group, a liquidation firm, early this month
DSN Retailing Today, August 22, 2005
NEW YORK -- Retail Brand Alliance sold its Casual Corner Group business to Gordon Brothers Group, a liquidation firm, early this month. The sale, said to be worth nearly $250 million according to market sources, included the disposition of all 550 Casual Corner stores.
RBA, established in 2001 as a holding company, acquired Brooks Brothers from Marks & Spencer as one of its first purchases. Other brands under the RBA name are Adrienne Vittandini and Carolee Designs.
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Although Gordon Brothers Group officials declined to comment, Claudio Del Vecchio, RBA ceo, said he sold Casual Corner in order to focus on the Brooks Brothers business. He also added he wouldn't rule out selling Vittandini or Carolee in the future, if the offer was right.
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