Great American Group® Subsidiary Acquires TJ Hughes’ Debt

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WOODLAND HILLS, Calif.--(BUSINESS WIRE)-- GA Europe™, the European subsidiary of Great American Group, Inc. (OTCBB: GAMR), a leading provider of asset disposition, valuation and appraisal services, has acquired a portion of the outstanding debt of the United Kingdom’s discount department store operator TJ Hughes for an undisclosed amount.

A 99-year-old department store chain based in Liverpool, TJ Hughes operates 56 discount department stores throughout the United Kingdom. On June 30, 2011, the company entered administration with Ernst & Young acting as its administrator.

GA Europe is working closely with the administrators on the stores’ inventory liquidation and assisting in the examination of options available to TJ Hughes.

On August 1, 2011, the administrators announced the sale of four TJ Hughes stores in Liverpool, Eastbourne, Glasgow and Sheffield to Lewis’s Home Retail, saving a total of 442 jobs.

TJ Hughes has struggled for the past few years against a backdrop of reduced consumer spending and increased competition.

For more information about asset disposition, valuation and appraisal services available through Great American Group or GA Europe, visit the company’s website at www.greatamerican.com.

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About Great American Group

Great American Group, LLC, 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. Great American Group has offices in Atlanta, Boston, Chicago, Dallas, London, Los Angeles, New York and San Francisco. For more information, contact (818) 884-3737 or visit www.greatamerican.com.

About GA Europe

GA Europe is a 100 percent subsidiary of the publicly listed Great American Group, operating in partnership with retailers and their financial stakeholders across Europe to resolve complex or distressed situations. Over the last five years, Great American Group/GA Europe has handled more than $10 billion of retail stock clearance and has provided nearly 4,000 appraisals.

CONTACT:

Media Contacts:
Great American Group
Laura Drummond, Vice President of Marketing
847-444-1400 ext. 2312
ldrummond@greatamerican.com
or
Mulberry Marketing Communications
Ron Whittington, Senior Account Executive
904-355-8680
rwhittington@mulberrymc.com
or
GA Europe
Gavin George, European Managing Director
020 3178 4760
ggeorge@gaeurope.co.uk
or
Investor Relations Contact:
Great American Group
Paul Erickson, CFO
818-884-3737
perickson@greatamerican.com