B. Riley said that the businesses are not appropriately valued by the market and could provide greater value to a potential acquirer. The businesses collectively formerly known as Great American Group was acquired by B. Riley in 2014 through a strategic combination.

The retail and appraisal business is currently carried on B. Riley's balance sheet at a book value of about $35 million, the company said.

It has retained Moelis & Company LLC as an independent financial adviser to assist in its review.

(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Shilpi Majumdar and Shailesh Kuber)