Women's mall-based retailer Charlotte Russe Holdings Inc. said Wednesday it would
weigh strategic options, including a possible sale. The news comes about two months after it rebuffed an offer worth nearly $200 million from investors KarpReilly Capital Partners LP and H.I.G. Capital Partners LLC. Also Wednesday, the San Diego company, which targets teenage and twenty-something women, reported its first-quarter results for the three months ended Dec. 27. The company lost 14 cents per share or $2.9 million, while same-store sales declined 9.1%.
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Meanwhile, The Deal's Christine Idzelis writes Madison Dearborn
Partners LLC portfolio company Yankee Candle Co. is shuttering
stores and letting go nearly 330 employees.
She writes:
Madison
Dearborn closed its $1.6 billion leveraged buyout of the scented candle
marketer in February 2007. Since then, one of its major customers,
Linens 'n Things Inc., has gone bankrupt, and the retail sector has
been pulled down by the deepening recession.
Idzelis notes South Deerfield, Mass.-based Yankee Candle joins "an
increasingly crowded list of private equity-backed retailers announcing
layoffs." See the
full story for more details.
The companies are among the latest to be hit by woes plaguing
retailers. Also this week, Boston-based discount department store
Filene's Basement Inc. unveiled plans to shutter 11 stores, The Boston Globe
writes. See
Dealwatch: Retailers and bankruptcy for more. -
Carolyn MurphySee Boston Globe storySee The Deal magazine story: Post-holiday blues
