Struggling DWR appoints investment bank
Cecile Corral -- Home Textiles Today, February 3, 2009
San Francisco – Residential and contract home furnishings retailer Design Within Reach has retained investment bank Thomas Weisel Partners LLC (TWP) to review strategic alternatives, “including advice related to an unsolicited offer recently received by the company,” said DWR.
“We have decided to evaluate alternatives that will best serve the interest of all of our shareholders given our depressed share price,” stated DWR ceo Ray Brunner. “The board has appointed a committee of independent directors to work with TWP to allow our management team to focus on day-to-day operations.”
“The company currently has no commitments or agreements with respect to any particular transaction,” DWR noted.
Shares of the company have traded as high as $4.50 as recently as September – but have not been above $1 since late November.
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