Chico’s Weighs Buyout While Trying to Move Beyond the Mall (1)

May 13, 2019, 2:45 PM

Malaise in the shopping mall is certainly no secret, with thousands of stores shutting and some familiar names disappearing. Struggling women’s apparel merchant Chico’s FAS Inc. now has a potential lifeline -- which it may throw back.

The retailer said May 10 it would review an unsolicited buyout bid from Sycamore Partners, the owner of office supply giant Staples Inc. and department-store chain Belk, noting that it had previously rejected a higher offer from the private equity company.

Chico’s is part of a hard-hit category that targets mature women. Its peers include clothing stores like J. Jill Inc. and Dressbarn, ...

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