Deals
Chico's Weighs Buyout While Trying to Move Beyond the Mall
- Women’s chain previously rejected higher offer from Sycamore
- Retailer is closing stores, moving more online to ‘rebalance’
Photographer: Sam Hodgson/Bloomberg
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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 Friday 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.