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Gordmans Stores Agreement Filed

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Gordmans Stores filed with the U.S. Bankruptcy Court an agency agreement, which states, “This Agency Agreement is made as of March 31, 2017, by and between Gordmans Stores and each of its subsidiaries (collectively, the ‘Merchant’), a joint venture comprising Tiger Capital Group and Great American Group WF, collectively, ‘JV Agent’ and Specialty Retailers, the ‘Purchaser.’ Purchaser and Merchant have entered into that certain Asset Purchase Agreement…pursuant to which Purchaser intends (i) to acquire designation rights with respect to the leases relating to the Designation Rights Stores and the Nebraska Distribution Center and any contract to which Merchant is a party other than any contract exclusively relating to any Closing Store or the Indiana Distribution Center and (ii) to acquire certain assets of, and certain rights from, and to assume certain liabilities of, Merchant, as specified therein.”

In addition, “As a guaranty of Purchaser and JV Agent’s performance hereunder (including, without limitation, in their respective capacities as Agent) and as consideration under the APA, Purchaser and JV Agent jointly and severally guarantee that Merchant shall receive$74,150,000 (the ‘Guaranteed Amount’).”

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