Gordon Brothers Group LLC

With a 25-year career that includes senior management positions in the valuation and disposition of industrial assets, Robert Maroney's unique perspective and experience has earned him an unparalleled trust within the commercial and industrial lending and disposition communities. Prior to joining Gordon Brothers Group, Mr. Maroney served as Chief Appraisal Officer at Bank of America, where he managed a national team of multi-disciplined senior appraisers accountable for performing valuations for asset based lending purposes. Over the past 25 years, Mr. Maroney has had oversight responsibility for the valuation of more than $100 billion of industrial assets including machinery and equipment, inventory, real estate, intellectual properties and business valuations. Mr. Maroney is a Senior Member of the American Society of Appraisers, Machinery and Technical Specialties, and is a licensed and certified general real estate appraiser. He is a graduate of the University of Massachusetts at Amherst with a BBA in Accounting.

Robert Himmel works with clients on designing and effecting comprehensive solutions in all elements of the consumer products industry. Prior to joining Gordon Brothers Group, Mr. Himmel served as President of the Malden Ventures Division of Malden Mills Industries. In a career spanning over 15 years in the textile industry, Mr. Himmel served as the Vice President of Sales and Marketing for Malden Mills' innovative Polartec Brand of performance textiles, as well as Vice President and General Manager of Malden North America. Mr. Himmel began his career at Westpoint Stevens, Inc. He also served as Vice President of Marketing and Merchandising for Guilford Mills, an NYSE listed multinational manufacturer of textiles for the automotive, industrial, apparel and home market segments. Mr. Himmel is a member of the Board of Directors of Jewish Vocational Services, Inc. and past Vice President of the Board of Directors of the Knitted Textile Association. Mr. Himmel received his BA from the State University of New York at Stony Brook.

Malcolm MacAulay joined Gordon Brothers International in 1999 to lead the retail division. Under his direction the team delivered numerous successful projects for major European retailers including BhS, Littlewoods, Homebase, Co-Operative Group, KarstadtQuelle, Castorama and Gruppo Coin. Prior to joining the Company he was Retail Operations Director at Co-Operative Retail Services, where he managed the non-food division. He spent 22 years at BhS in various senior operational roles. Malcolm is responsible for Gordon Brothers' European operations in both Retail and Consumer Products, and the Commercial and Industrial markets.

Andy Becker, ASA, has a 25-year career that includes positions with several national and international appraisal and disposition firms. Prior to joining Gordon Brothers Group, Mr. Becker held senior management positions with Hilco Appraisal Services, Dovebid Valuation Services, and Norman Levy Associates. Mr. Becker is a Senior Member of the American Society of Appraisers, Machinery and Technical Specialties, two-term past president of the Atlanta Chapter and past Treasurer. He is an active member of the Commercial Finance Association and Turnaround Management Association. Mr. Becker is a graduate of Lassen College.

David Cramer joined Gordon Brothers Group in 2002, after a 16-year career at Aisenstein & Gordon, (A&G) a national distributor and importer of brand name small appliances, personal care products and housewares. As an Executive Vice President and Principal at A&G, Mr. Cramer managed the Purchasing, Operations and Sales functions for the company. A&G's clients included national and regional retailers including Linens 'N Things, Bloomingdales, QVC, Winn Dixie, Supervalu, Kmart, and The Bon Ton. Prior to joining A&G, Mr. Cramer began his career in the banking sector at Philadelphia National Bank. He also served in senior roles at PUMP Financial Services and General Electric Mortgage Securities & Insurance Companies. Mr. Cramer is a graduate of Georgetown University.

Jan Sommers has over twenty-five years experience as an apparel industry executive with proven expertise and success at product design, development, marketing and brand management for several leading apparel manufacturers. Prior to joining the Wholesale Division she was Sales Director of Apparel for Tradeout, Inc. a business-to-business online wholesale marketplace that was bought by Gordon Brothers RetailExchange in 2001. Previously, she served as Executive Vice President, Sportswear Group for Leslie Fay and as Vice President, Sales & Marketing for Norton McNaughton. Ms. Sommers held various Vice President Sales and Merchandising positions at Liz Claiborne Inc, throughout the 80's and 90's. Highlights included the launch of both the Petites and Mens Claiborne Divisions, driving sales in both divisions to the $100 million level in less than 2 years time. She is a graduate of State University of New York.

Michael Guelfo, ASA, has18 years of industrial-related expertise including asset dispositions, asset valuations, rigging and project management. Prior to joining Gordon Brothers Group, he was a Senior Appraiser at Bank of America Business Capital where he performed valuations of machinery and equipment and inventory for asset-based lending purposes. Prior to that, he was responsible for acquisitions, project management and estimating for a global concern that bought and sold new, used and rebuilt process plants and equipment. Mr. Guelfo is an Accredited Senior Appraiser, Machinery and Technical Specialties with the American Society of Appraisers. He has a BS in Finance from Louisiana State University.

Michael Caplan joined Gordon Brothers Group as Vice President, Information Technology in 2005 and is responsible for leading the firm's technology strategies and operations. Mr. Caplan has held a wide range of Information Technology, Project Management, Operations, and Software Development positions at various public and private companies. Prior to joining Gordon Brothers Group, he held the position of Information Technology Director at American Science & Engineering, and manufacturer of high tech X-Ray security systems. Before American Science & Engineering, his experience included senior IT management positions with international responsibilities at Extraprise, a marketing systems integrator, and at Galileo Corporation, a fiber optics manufacturer acquired by Corning. Mr. Caplan holds a Bachelor of Science degree from Northeastern University.

Ulos Anderson has over 26 years of management experience, having held a variety of senior level positions at Dollar General Corporation (a national chain of over 8,000 stores) and the Service Merchandise Corporation (last serving as a Divisional Vice President, where he supervised the teams responsible for its Electronics, Housewares and Appliance categories). Prior to Service Merchandise Corporation, he held several positions with increasing responsibility at the McCrory Stores Corporation and T.G & Y Stores. Mr. Anderson, who first became associated with Gordon Brothers Group in 2001, holds a BS in Business Administration from Jackson State University in Jackson, MS.

Brad Snyder is an authority in representing businesses and helping them address a range of issues, including organizational restructuring, mergers and acquisitions, sales, financing and debt structuring. During the past years, he worked to acquire the Casual Corner/ Petite Sophisticate business from Retail Brand Alliance; to acquire the Laura Secord Candy business from Archibald Candy; to facilitate the repositioning of numerous Federated stores (Macy's/ Rich's/ Sterns/ Filene's/ Robinson-May/ Foley's/ Hecht's/ Strawbridge/ Lord and Taylor) as well as to facilitate the Ames acquisition of 155 Hills Department Stores. He also played a major role in the financing and subsequent inventory disposition of the T. Eaton Company in Canada as well as numerous other companies. Mr. Snyder has also been an active player in Gordon Brothers Group's finance and inventory business in the United Kingdom and Canada. In addition to his Gordon Brothers Group duties, Mr. Snyder also served as Executive Vice President of Marketing and Advertising for RetailExchange.com from its inception to its launch. Prior to joining Gordon Brothers Group, Mr. Snyder was a Managing Partner with the Boston-based boutique law firm of Looney & Grossman, LLP specializing in corporate transactions, financings and restructurings. Mr. Snyder was a long time board member of the Combined Jewish Philanthropies of Greater Boston and formerly sat on the Boards of the New England Chapter of the American Friends of Hebrew University, the Big Brother Association of Greater Boston as well as numerous other civic, religious and political organizations. Mr. Snyder has a BA from The George Washington University, a JD from Boston University School of Law and is a member of the Massachusetts and Federal Bars.

Mr. Grosskopf is a 17-year veteran of the liquidation business and manages all the complex issues surrounding inventory disposition and maximizing the recovery values for retailers' underperforming assets. Mr. Grosskopf has been involved with Gordon Brothers Group's largest asset disposition assignments and has particular insight into hard goods retail segments. Prior to joining Gordon Brothers Group in 1995, Mr. Grosskopf spent seven years in the liquidation business and eight years at Levi's Management Group/Gulf States Toyota Automotive Group, where he led the company's wholesale parts sales operation.

Tom Lonabocker is a Managing Director in Gordon Brothers Group's operations group. He develops and implements sophisticated strategic merchandising strategies in store closing and inventory liquidation programs for our retail clients. Mr. Lonabocker has spent his entire 22-year career in the retail industry, first as a buyer at Bradlees for five years and then as a vice president and men's division merchandise manager at Hills for 12 years. He is a graduate of St. Michael's College and earned an MBA at Suffolk University in Boston.

Barry Knight's main focus is on sourcing and structuring deals across Europe. He previously worked for Hilco UK Limited where he had responsibility for the closure of the Littlewoods stores. Barry has a wealth of retail, finance and restructuring experience, including working as the Director of Corporate Finance at MyTravel Group, Head of Finance at Boots, Deputy Group Finance Director at Coats Viyella PLC and various interim positions including Selfridges. He has also worked with the Burton Group. Barry is a Chartered Accountant with a degree in Chemical Engineering from Cambridge University.

Malcolm McCrorie joined Gordon Brothers in 2001, bringing with him more than 20 years' experience in international retailing. After qualifying as an accountant (FCMA) in 1982 he started his career in retail as Financial Controller of Mothercare Europe. In this role he was responsible for converting Mothercare into a highly successful worldwide international franchise business. In 1992 he joined Next to head up a new phase of international development through franchising, joint ventures and wholly owned businesses.

Nick Taylor, alongside Steve Curtis, is responsible for Gordon Brothers' European retail operations consultants and field operations. Prior to joining Gordon Brothers in 2002 he enjoyed over 20 years of retail operations positions with the Kingfisher group. Among other roles, he was a Regional Manager at B&Q plc and a Store Manager and District Manager with Woolworth plc. Nick was a key member of the Woolworth Format Development team responsible for creating the successful 'Local Woolworth' brand in the 1990s. As Implementation Manager, he subsequently oversaw the national rollout of this brand to over 300 Woolworth branches.

Steve Curtis, alongside Nick Taylor, is responsible for Gordon Brothers' European retail operations consultants and field operations. Prior to joining Gordon Brothers he was formerly at Progressive Financial Services, the major division of Cattles PLC and comprising four regulated financial services businesses. During his five-year tenure, Steve progressed to Operations Director, with responsibility for both Shopacheck Financial Services and Welcome Car Finance. Prior to his appointment as Operations Director, he was Business Development Director, responsible for the Marketing of the whole of the Division's five businesses.

Ann Merrill brings over 20 years of retail experience working in merchandising, buying, and merchandise planning. Ms. Merrill participates with our clients to understand their needs and how Gordon Brothers Group can provide solutions to those needs. Ms. Merrill works closely with Gordon Brothers Group's venture analysts, merchants and field operations group using our sophisticated due diligence process in preparing both strategic asset dispositions for our clients and asset appraisals for lenders. It is through this process that recovery models are developed based on the valuation, assessment and analysis of critical factors impacting each client's assets and operations. These valuation models ensure that Gordon Brothers Group, along with our banking and consumer products clients, fully understand the pending value and risk of each project. Ms. Merrill joined Gordon Brothers Group in 1996 as a Merchant after 13 years with Thom McAn Shoe Company, a division of Melville Corporation. At Melville she served in numerous merchandising and buying roles, the most recent being Director of Merchandise Planning. Previously she served with J.C. Penney and Oshman's Sporting Goods in Atlanta, GA. She is a graduate of Agnes Scott College, Decatur, GA, where she also served as a Mortar Board member.

Until 2002, George R. Mrkonic was Vice Chairman of Borders Group, Inc., (BGI) the second largest book retailer in the U.S. He joined BGI in 1994 as President and Vice Chairman. Mr. Mrkonic began his retail career in 1978 and has led several retail companies including Herman's Sporting Goods, Eyelab and Kmart's Specialty Retailing Group. He acquired Borders for Kmart in 1992, merged it with Waldenbooks and subsequently took the combined entity public in 1995. Mr. Mrkonic led Borders international growth, which now includes strong positions in the United Kingdom, Australia, Singapore and New Zealand. Mr. Mrkonic is Chairman of Paperchase (a UK gifts and stationery retailer), Lead Director of Guitar Center, Inc. and a director of a variety of other retail and consumer-oriented companies. Mr. Mrkonic graduated from Stanford University in 1974 with an MA and BA in Economics, and received an MBA from Harvard Graduate School of Business Administration in 1978.

Jeff Gordon, with over 25 years of experience in the fixture and equipment industry, has been directly involved with many of the largest retail liquidations in North America and overseas. As a former principle at Gordon Brothers Group and CEO of GB Fixed Asset Solutions, and now leading The Gordon Company, Jeff and his century old family heritage represent a long standing symbol of liquidation experience across a wide range of companies and industries. From single-shop boutiques to well-established, multi-unit retail or industrial operations, Jeff knows how to construct liquidation scenarios that quickly and simply solve FF&E disposal puzzles and maximize client recovery values.

Lee Cote, with over 25 years of experience in the retail business, directs all store level sales and promotional activities for our clients - including day to day operations, marketing and advertising. She also serves as a Senior Merchant to many of our ongoing clients by supervising specialty projects including store openings, relocations and clearance events. Working with our consultant team, Ms. Cote directs strategies to maximize recoveries, establishes best-standards for store operations and enhances morale for store-level associates. Ms. Cote first worked with Gordon Brothers Group as a field consultant and joined the Boston office in 1997 as Manager of Field Operations. Prior to joining Gordon Brothers Group, Ms. Cote started in retail with Dayton Hudson Department Stores in Michigan, holding positions ranging from sales, planner and buyer to general store manager. She has also been the owner/operator of a women's fashion retail store in California. Ms. Cote is a graduate of Oakland University, Rochester Michigan.

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Michael Rand is a Principal at GB Merchant Partners. He joined GB Merchant Partner's predecessor firm, Palladin Capital Group, in 1998 as an Associate and most recently served as Principal. While at Palladin, Mr. Rand focused on the consumer products sector. In addition to his responsibilities at Palladin, Mr. Rand was involved in advising Jones Apparel Group on its acquisition of Nine West Group and served on the transition team as Director, Strategic Planning, focusing on the integration of the two companies. Prior to joining Palladin, Mr. Rand was a member of the High Yield Corporate Finance department of CIBC Oppenheimer Corporation. Mr. Rand currently serves on the Board of Directors of Andrew Marc. He received a BS from Georgetown University and an MBA from the Stern School of Business at New York University.

Mr. Edwards has spent his entire career in the inventory disposition business. With a background in finance and as Team Leader of Gordon Brothers Group's Analyst group, Mr. Edwards has been instrumental in the development of the evaluation techniques and inventory assessment measurements that have become industry standards. Working with Gordon Brothers Group's senior merchandising and operations teams, Mr. Edwards has managed the financial due diligence efforts for the firm's major client projects, ensuring the highest return on the assets of Gordon Brothers Group's clients. He holds a BA in Finance from Westfield State College.

Steve Sigel began his retail career with Filene's as a Buyer, and gained increasing levels of responsibility throughout his thirteen years there, ending as a Divisional Vice President and Merchandise Manager of Men's Clothing and Furnishings Division. He then joined New England Development with a focus on regional shopping centers. During Mr. Sigel's ten years at New England Development he held several positions including responsibility for the opening of two new malls - Emerald Square Mall and Cambridgeside Galleria. He went on to become the Vice President, Regional Director of Properties with responsibility for the overall operations and marketing of twelve regional malls from New England to Florida. Most recently, he was with Wells Fargo Retail Finance as a Vice President and Senior Merchant. Mr. Sigel received his Bachelor's degree from the University of Massachusetts and his MBA from Suffolk University.

Mr. Scotti oversees daily operations for the appraisal group. In addition, Mr. Scotti calls on his extensive industry experience in asset-based lending and collateral monitoring to maintain and expand client relationships. Prior to joining Gordon Brothers Group, Mr. Scotti worked as a Managing Director of Fleet Retail Finance, where he was responsible for the due diligence and collateral monitoring functions of a high-risk commercial loan portfolio. Before Fleet, his experience includes five years with Morse Shoe, Inc. as the Manager of Financial and Merchandising Planning and three years with Laura Ashley as the Director of Inventory Control. Mr. Scotti received his Bachelor's degree from Columbia College at Columbia University, and his MBA from Columbia Business School.