Gottschalks forms special committee to evaluate strategic alternatives
06 Nov '06
2 min read
Gottschalks Inc, regional department and specialty store chain based in Fresno, California, announced that its Board of Directors has formed a special strategic committee comprised of certain directors to identify and evaluate various strategic alternatives to maximize shareholder value.
That's includes, a revised business plan, operating partnerships, joint ventures, strategic alliances, share repurchases, a recapitalization, and the sale or merger of the Company.
Joe Levy, the Company's Chairman, said, "The Board is confident in the core business of the Company and, as fiduciaries to the Company's shareholders, wants to ensure that the value of the Company is adequately reflected in the public markets."
Levy continued by adding, "The special committee, which consists of Jim Czech, Jim Famalette, Joe Penbera, Jorge Pont-Sanchez, Jim Woodward and myself, will review all alternatives, ensure a thorough process and make associated recommendations to the full Board of Directors for consideration."
There can be no assurance that any review of the Company's strategic alternatives will result in a change in the current business plan of the Company or any transaction being authorized or consummated.
The company does not currently intend to disclose developments or provide updates on the progress or status of the strategic alternatives review process or of any strategic alternatives under consideration, unless and until the Board of Directors has approved a specific transaction.
marketing@alchempro.com
