UBS Investment Bank to aid Gottschalks in potential sale
December 12, 2006-- Home Textiles Today,
Fresno,Calif.– Regional department store operator Gottschalks has retained UBS Investment Bank to assist its special strategic committee in exploring various alternatives, and the company said it will also continue to use the financial advisory services of Financo.
The 66-store chain previously said a special committee of the board of directors would identify and evaluate such strategic goals as “a revised business plan, operating partnerships, joint ventures, strategic alliances, share repurchases, a recapitalization, and the sale or merger of the company.”
Gottschalks has not set a definitive timetable for the review and cautioned the evaluation process may not result in a transaction.