(Bloomberg) -- B. Riley Financial Inc. sealed its second deal in less than a month to raise cash and cut its debt load, this time collecting $236 million by divesting rights to its stable of consumer brands. The shares gained more than 8% in early New York trading.

Among the brands included were Hurley, English Laundry and Limited Too, the company said in a statement Tuesday. B. Riley secured about $189 million in net proceeds for that part of the deal, while a transaction for licenses to the bebe and Brookstone brands took in $47 million. 

Hilco Global and TPG Angelo Gordon acquired the assets through a joint venture, according to a separate statement. 

“With the completion of this transaction and the expected sale of a majority stake in Great American Group in late November, we are moving from a period of asset monetization to a renewed focus on growth in our core financial-services operating businesses,” Chief Executive Officer Bryant Riley said in the statement. “There remains a huge opportunity in the small- and mid-cap markets.”

Earlier this month, B. Riley said it agreed to sell a majority stake in its Great American business to funds managed by Oaktree Capital Management LP. 

The asset sales could help B. Riley bolster its balance sheet as it wrestles with a debt load that totaled about $2 billion at midyear. The company suspended its dividend in August to put a priority on cutting leverage, and recently renegotiated its key loan with terms that included paying down the balance and terminating a revolving credit line.

Shares of B. Riley have tumbled in recent years as its investments soured and US authorities probed some of its business deals and disclosures. The Los Angeles-based firm also missed a deadline for filing its second-quarter financial statements, which are still pending. Riley and his company have said there’s been no wrongdoing and they’re cooperating with authorities.

The company said it would update investors on its plans during its next quarterly earnings call.

Sullivan & Cromwell served as legal adviser to B. Riley.

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