Clothing retailer Le Château mulls sale of company
15 Mar '06
2 min read
Clothing retailer Le Château has announced that it is evaluating various strategic alternatives, including, but not limited to, a sale of the company, a business combination or a capital reorganization, and has engaged Genuity Capital Markets as financial advisor to assist the company in evaluating and considering such alternatives and their potential for enhancing shareholder value.
The company anticipates that this process will take several months. However, there can be no assurance that any transaction or other alternative will ultimately be completed.
Le Château's Chairman of the Board and CEO, Herschel Segal, said, "Given our strong financial situation and potential for growth, the position of the company as a leading and highly profitable Canadian specialty retailer and the various opportunities available to us, our Board believes it is appropriate at this time to undertake a full review of our strategic and financial options before finalizing our growth plans for the next several years."
"This step is a natural and logical part of our evolution and growth and we believe that this is the right time to review such opportunities in the best interest of Le Château and all of its shareholders", added Segal.
Le Château is a leading Canadian specialty retailer offering contemporary fashion apparel, accessories and footwear to style conscious women and men.
Le Château's brand name clothing is largely designed and developed within its vertically integrated operations. The Le Château brand merchandise is sold exclusively through its 185 retail locations.
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