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Article: BCBG Max Azria Group and Guggenheim Win G+G Bidding.
- Article from:
- PR Newswire
- Article date:
- February 15, 2006
CopyrightCOPYRIGHT 2006 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK, Feb. 15 /PRNewswire/ -- BCBG Max Azria Group, Inc. (BCBG) announced today that Max Rave, LLC, an entity to be owned by BCBG and Guggenheim Corporate Funding LLC (GCF), has emerged as the successful bidder in the auction for the assets of G+G Retail, Inc. The winning bid of $35 million cash was approved today in the U.S. Bankruptcy Court. The purchase transaction is expected to be completed on or before February 21, 2006.
GCF provided equity and loan commitments to Max Rave in order to fund the purchase of the company, provide fresh inventory for stores and provide operating working capital for operations. In addition, BCBG committed to provide equity ...