B. Riley secures $236M in cash from brand asset sale; proceeds to pay down debt

BRC Group Holdings, Inc.

Received $189M net from transferring brand interests (Hurley, Justice, Scotch & Soda, etc.) to securitization vehicle.
bebe sold bebe and Brookstone brands for $47M in net cash proceeds.
Total cash proceeds of $236M will be used to pay down senior secured debt and deleverage balance sheet.
Company also expects sale of majority stake in Great American Group in late November.
Chairman outlines renewed focus on growth in core financial services operating businesses.

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