NEW YORK, May 1, 2015 /PRNewswire/ -- Barington/Hilco
Acquisition Corp. (Nasdaq: BHACU) (the "Company") announced today
that James A. Mitarotonda has
resigned his position as Chief Executive Officer of the
Company. Mr. Mitarotonda will continue to serve as Chairman
of the Company's Board. The Company's Board has appointed
Cory Lipoff as Chief Executive
Officer, effective immediately.
Mr. Mitarotonda has served as the Company's Chief Executive
Officer and Chairman of the Board since the Company's inception in
July 2014.
Mr. Lipoff has been a trusted advisor to retailers on strategic
and financial performance issues for over 30 years. He
currently serves as Executive Vice President and a Principal in
Hilco Merchant Resources, a division of Hilco Global. He has
assisted numerous retail companies around the world in creating
significant shareholder value across all key retail sectors,
including department store, specialty apparel and hard lines, big
box and grocery.
A recognized expert in bankruptcy, corporate reorganization and
restructurings, Cory specializes in structuring and implementing
sophisticated asset redeployment strategies for retailers.
Prior to joining Hilco in 2000, Cory was a Partner in
bankruptcy/commercial law at Jones-Day. He has also served as
Chairman of the Compensation Committee on the Board of Directors of
Loehmann's and on the Board of Advisors for the University of Florida, Miller Retail Center.
James A. Mitarotonda stated, "I
know that Barington/Hilco Acquisition Corp. will be in good hands
under Cory's leadership, who has been working with me and our team
on all aspects of the Company, including our efforts to identify a
transaction that will create meaningful value for
shareholders. I look forward to continuing to work with him
in my capacity as Chairman of the Board."
About Barington/Hilco Acquisition Corp.
Barington/Hilco Acquisition Corp. is a Delaware corporation formed for the purpose of
entering into a merger, share exchange, asset acquisition, stock
purchase, recapitalization, reorganization or other similar
business combination with one or more businesses or entities. The
Company's efforts to identify target businesses will not be limited
to a particular industry or geographic region, though it intends to
initially focus its search on consumer focused businesses located
in the United States, including,
without limitation, retail, apparel, footwear and consumer products
companies.
Forward-Looking Statements
This press release includes "forward-looking statements" that
are not historical facts, and involve risks and uncertainties that
could cause actual results to differ materially from those expected
and projected. Words such as "expects", "believes", "anticipates",
"intends", "estimates", "seeks" and variations and similar words
and expressions are intended to identify such forward-looking
statements. Such forward-looking statements relate to future events
or future performance, but reflect the Company's management's
current beliefs, based on information currently available. A number
of factors could cause actual events, performance or results to
differ materially from the events, performance and results
discussed in the forward-looking statements. For information
identifying important factors that could cause actual results to
differ materially from those anticipated in the forward-looking
statements, please refer to the Risk Factors section of the
Company's prospectus for its offering filed with the Securities and
Exchange Commission. Except as expressly required by applicable
securities law, the Company disclaims any intention or obligation
to update or revise any forward-looking statements whether as a
result of new information, future events, or otherwise.
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SOURCE Barington/Hilco Acquisition Corp.