Cerberus Asia Capital Management LLC, an Asian arm of a major U.S. private equity fund, has announced its intention to invest in Nagasakiya Co., a Tokyo-based retail chain that went effectively bankrupt last month.
If realized, Nagasakiya would rebuild itself under the auspices of the U.S. group; it would be the first case in which a foreign company has supported a failed Japanese retailer.
Cerberus Asia Capital Management officially proposed to become a financial sponsor of Nagasakiya, which is currently undergoing rehabilitation.