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09/22/2021

A&G claims a second award for the restructuring of Tuesday Morning

Al Urbanski
Real Estate Editor & Manager
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Andy Graiser
A&G co-president Andy Graiser will accept the Turnaround Management Association's award in Nashville next month.

In June, A&G Real Estate Partners won a Turnaround Atlas Award as “Real Estate Restructuring Firm of the Year.” Now the company has bolstered that title as a winner of the Turnaround Management Association’s “Turnaround/Transaction of the Year Award.”

Melville-based A&G was recognized along with other advisory and banking firms that assisted Tuesday Morning in its restructuring. The off-price retailer filed for Chapter 11 bankruptcy protection in May of 2020 and emerged from it this past January. A&G spearheaded the retailer’s efforts to optimize its real estate portfolio and emerge with 490 of its top-performing stores.

The Chicago-based TMA will honor this year’s 10 award recipients at its annual conference in Nashville next month. A&G co-president Andrew Graiser will be there to accept the award on behalf of the firm.

“We are pleased to be part of the team that was once again honored for its work on this flawlessly executed reorganization,” said Graiser. “For our part, working with Tuesday Morning’s  management and landlords, we were able to successfully restructure the go-forward leases and generate aggregate rent savings of approximately $75 million.”