Gottschalks Inc. said Friday its board of directors has formed a committee to consider strategic alternatives, including the possible sale or merger of the company.
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By identifying and evaluating various alternatives, the regional department and specialty store chain hopes to maximize shareholder value, the company said in a statement. Alternatives may include a revised business plan, operating partnerships, joint ventures, strategic alliances, share repurchases and a recapitalization, as well as the possible sale or merger of the Fresno, California-based retailer.
The company said there is no assurance that the review of its strategic alternatives will result in a change in the current business plan or any transaction being authorized or carried out. The committee does not intend to disclose breaking developments or provide updates on the progress or status of the review.