dELiA*s (DLIA) Divests Alloy Unit

dELiA*s, Inc. (NASDAQ: DLIA) announced the sale of its Alloy business to HRSH Acquisitions LLC d/b/a Alloy Apparel and Accessories. The Company received $3.7 million in cash at the closing of the sale in exchange for certain assets relating to Alloy, and Alloy Apparel and Accessories assumed approximately $3.1 million in liabilities. dELiA*s, Inc. and Alloy Apparel and Accessories also entered into a related agreement under which the Company will provide certain transitional services to Alloy Apparel and Accessories for up to one year.

Brian Lattman, Co-Head of HRSH Acquisitions LLC, will be assuming the role of President of the newly formed entity. Mr. Lattman will work closely with the Alloy management team to drive growth in the business through brand building and new customer acquisition.

Janney Montgomery Scott LLC acted as exclusive financial advisor to dELiA*s in connection with the transaction. Troutman Sanders LLP acted as legal advisor to dELiA*s. Lowenstein Sandler LLP acted as legal advisor to HRSH Acquisitions LLC.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• NextTrip hires four ad sales executives to grow media revenue
• Akari Therapeutics adds oncology expert Patricia LoRusso to advisory board
• Gemini launches commission-free stock trading in the U.S.