Teen clothing retailer Aeropostale has reportedly contacted at least two private equity firms as it explores strategis options.
The company has also asked investment banks to advise on how to handle pressure from activist investor Crescendo Partners or manage a sale process, said Bloomberg, citing people with knowledge of the matter.
Aeropostale is not currently in negotiations to sell itself, said the sources.
Back in November Crescendo Partners urged the company to sell itself following a sharp decline in its share price.
The firm said that retail turnarounds were difficult to perform for public companies and were associates with “a fair amount of execution risk.”
It was previously reported that another shareholder, Sycamore, could make a buyout offer for Aéropostale at a significant premium to its current market value.
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