Steele's & Deals Name Change Reflects Retailer's Plan to Deliver Great Value and Branded Products to Local Shoppers

Steele's & Deals logo
Hilco Global

CHICAGO, March 24, 2014 (GLOBE NEWSWIRE) -- The Hilco Global Retail Group announced today that it will rebrand its recently acquired Steele's retail stores as Steele's & Deals. The company also made several announcements about key executive leaders who will take over new management roles at the retail chain.

The newly branded Steele's & Deals name is being launched to more directly and accurately communicate the outstanding value that customers will find on a broad assortment of merchandise offered at each store. Michael Keefe, President and CEO of the Hilco Retail Group (the new owners of Steele's & Deals) said, "We believe that this name change clearly positions our stores with local customers as a terrific off-price department store, selling brand name family apparel, shoes, accessories and home décor at deep discounts off traditional department store prices." Keefe went on to say, "It is our aim to introduce additional brands and value priced merchandise, which will encourage shoppers to visit their local Steele's & Deals stores often. Hilco is in the unique position of being able to leverage our considerable retail expertise and our access to many diverse merchandise channels in order to complement our current Steele's & Deals buying operation in New York."

Mr. Keefe announced several important changes to the team that will take over the day-to-day management of Steele's & Deals. "I'm pleased to announce that the merchandising office of Steele's & Deals will be run by Bob Naylor who has been promoted to Senior Vice President, General Merchandise Manager, and that operations will be overseen by Raymundo Armendariz, as Senior Vice President, Chief Operating Officer.

Mr. Naylor has been a key member of the Steele's management team having served as VP, Divisional Merchandise Manager. Naylor has been a long time retail executive having held positions at Macy's and Federated Department stores.

Mr. Keefe said "Bob's experience with the current organization, coupled with his tremendous retail skills, provides critical continuity within the merchandising process." Commenting on his new position, Mr. Naylor said, "The acquisition by Hilco Global presents extraordinary possibilities as we continue to develop our brand and serve our customers. The combination of two great organizations not only reinforces and complements existing strengths, but also creates unprecedented opportunities."

As Chief Operating Officer, Raymundo Armendariz brings to his role very substantial retail operations experience, including over 10 years of service with Levitz Furniture. Mr. Armendariz stated, "By providing consumers with a great selection of quality merchandise at very affordable prices, Steele's & Deals stores fill an important need in their communities."

About Hilco Global: Hilco Global is the world's preeminent authority on helping businesses to maximize the value of their assets. Hilco Global is considered a world-class company, having earned this reputation after decades of providing strategic solutions and financial results for healthy and distressed companies including working to reinvigorate going concern retail operations and established growth oriented businesses. Hilco Global has built a comprehensive retail practice that delivers a full complement of asset valuation, asset monetization, and advisory solutions. These Hilco companies provide a range of integrated services including valuation; acquisition and disposition; private equity investment; and, advisory-consultative solutions. Leveraging a team of retail experts, Hilco focuses on creating and implementing retail strategies and operational changes that bring practical, real value to increase profitability. In addition, Hilco Global has participated in equity investments in many prominent brands including Polaroid, Miss America, Halston, The Sharper Image, Linens-N Things, Ellen Tracy and Frederick's of Hollywood.

The new Steele's & Deals brand is planned to be rolled out at the following locations. (See Attached List).

Store Locations

Steele's & Deals 1909 N. Saint Marys St. Beeville TX 78102
Steele's & Deals 3100 N. Main St Ste 103 Taylor TX 76574
Steele's & Deals 1203 N Hobart St. Ste 2 Pampa TX 79065
Steele's & Deals 1402 Mockingbird Ln Ste. 1A Sulphur Springs TX 75482
Steele's & Deals 1007 E Milam St Mexia TX 76667
Steele's & Deals 701 N. International Blvd Hidalgo TX 78557
Steele's & Deals 1715 W Expressway 83 Penitas TX 78576
Steele's & Deals 2301 S Brahma Blvd, Unit C Kingsville TX 78363
Steele's & Deals 1404 W. Dickinson Blvd Fort Stockton TX 79735
Steele's & Deals 3500 W. 7th Ave Ste 1 Corsicana TX 75110
Steele's & Deals 400 Georgia Ave Bogalusa LA 70427
Steele's & Deals 1401 N Turner St Suite B Hobbs NM 88240
Steele's & Deals 2270 E Main St Uvalde TX 78801
Steele's & Deals 3801 North St, Suite 12 Nacogdoches TX 75965
Steele's & Deals 676 S Jefferson Ave Mount Pleasant TX 75455
Steele's & Deals 905 S Muskogee Ave Ste C Tahlequah OK 74464
Steele's & Deals 2302 Hwy 82 W Suite B Greenwood MS 38930
Steele's & Deals 1318 Industrial Rd Emporia KS 66801
Steele's & Deals 850 W Hwy 77 Ste C San Benito TX 78586
Steele's & Deals 903 Market Place Alexander City AL 35010
Steele's & Deals 2013 N Main St Miami OK 74354
Steele's & Deals 1959 Prospect Blvd Houma LA 70363
Steele's & Deals 2801 Hwy 180 E Ste 2 Mineral Wells TX 76067
Steele's & Deals 1500 E Court St Ste 800 Seguin TX 78155
Steele's & Deals 1701 Fairway Drive, Ste 16 Alvin TX 77511
Steele's & Deals 1404 W Moore Ave, STE C Terrell TX 75160
Steele's & Deals 328 Homer Rd. Minden LA 71055
Steele's & Deals 2033 E Madison Ave Bastrop LA 71220
Steele's & Deals 617 Cresswell Ln Opelousas LA 70570
Steele's & Deals 3465 Highway 1 South Donaldsonville LA 70346
Steele's & Deals 311 South Drive Ste 311B Natchitoches LA 71457
Steele's & Deals 900 N. 5th St Suite 13 Leesville LA 71446
Steele's & Deals 1408 N. Main St. Guymon OK 73942
Steele's & Deals 1096 N. Hills Shopping Center Ada OK 74820

CONTACT: Gary Epstein Chief Marketing Officer Hilco Global 847 418 2712

Source: Hilco Global