Bebe stores, inc. and Great American Group, LLC Form Joint Venture to Acquire Assets of Charles Vogele
November 09, 2018 at 10:51 am EST
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bebe stores, inc. and Great American Group, LLC Form - Joint Venture to Acquire Assets of Charles Vogele GAEBB Group, BV ("GAEBB"), a joint venture formed by bebe stores, inc. and Great American Group, LLC has acquired the rights to purchase the assets of European fashion retailer Charles Vogele GmbH. GAEBB has purchased substantially all common stock and assets, including remaining store inventory and merchandise, real estate, intellectual property and certain other assets. The purchase of Charles Vogele's shares in Slovenia and Hungary was completed by GAEBB Group on September 25, 2018, and the purchase of its Austrian shares was completed on November 6, 2018. On October 22, 2018, Austrian insolvency administrators approved the Charles Vogele restructuring plan. As part of the restructuring plan, GA Europe, a division of Great American Group, is executing a store closure program which will enable the retailer to focus on its remaining profitable operations. This deal broadens Great American Group's footprint across Europe with expanded presence in Austria, Slovenia and Hungary.
bebe stores, inc. is primarily engaged in the business of operating retail rent-to-own franchise stores. The Company's rent-to-own Buddy's franchise stores offer furniture, appliances, and consumer electronics to consumers through rent-to-own agreements. The Company leases space for all of its Buddy's franchise stores under operating leases. It offers various product categories, including Featured, New, Clothing, Dresses, Denim, Shoes, and Accessories. Its Featured category includes Bandage Dresses, Bridal, Fall, and Halloween, among others. Its Clothing category includes Tops, Bottoms, Denim, Jackets, and Activewear, among others. Its Dresses category consists of Bandage Dresses, Bodycon Dresses, Denim Dresses, Little Black Dresses, Logo Dresses, Mini Dresses, Midi Dresses, Maxi Dresses, and others. Its Accessories include Bags, Belts, Hats, Shoes, Sunglasses, Watches. The Company operates approximately 64 stores in 12 states in the southeastern United States.
BEBE STORES, INC. 
