Hand, Katz and Metcalf were all former executives from larger competitor and deep discounter Burlington before coming to Tuesday morning.
Lopez and Mehr formed Retail Ecommerce Venture to purchase several retail names as companies liquidated in bankruptcy.
Hand, who had been CEO since May 2021 and had extensive retail experience, most recently at competitor Burlington, was succeeded on Friday by Andrew Berger, a board member since September. Berger has 25 years of investment analysis and business consulting experience, and he will also become interim chief financial officer.
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