• 14 Mar 2014 at 2:24 PM
  • Banks

Gleacher-less Gleacher Gives Up

Having ceased to have a Gleacher in the house, and having ceased to be an investment bank, investment bank Gleacher & Co. has decided to cease existing.

Gleacher & Company, the troubled investment bank that had tried unsuccessfully to sell itself, announced on Thursday that it planned to liquidate its assets, closing up shop after 24 years….

Though the board pursued other options, “the process to date has not yielded any opportunities viewed by the board as reasonably likely to provide greater realizable value to stockholders than the complete dissolution and liquidation of the company,” Mark Patterson, the chairman, said in a statement.

Gleacher & Co. Plans to Liquidate [DealBook]

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Comments (3)

  1. Posted by KKR | March 15, 2014 at 6:29 AM

    So, the barbarians have breached the gates. That sucks, but at least it was his gate this time.

    -F Ross Johnson

  2. Posted by dssadwer | March 16, 2014 at 5:07 AM

    Hey

    Who wants a buy a bunch of M&A bankers who are going to leave the firm in 2-3 months anyway?

    Your pal,
    Gleach-dog

  3. Posted by Hotspot Shield 3.35 | March 18, 2014 at 3:29 PM

    That sucks, but at least it was his gate this time.