Frederick's of Hollywood Exploring Possible SaleFrederick's of Hollywood, an intimate apparel company, announced it has retained Allen & Company LLC, a New York-based investment bank, to assist it in evaluating and exploring a broad range of strategic alternatives, including a possible sale.
Frederick's Chairman and CEO Thomas Lynch said in a statement, "Over the past few months, the Board has received several inquiries regarding various transactions. We believe it is an appropriate time to formalize the process by engaging a world-class advisor that can assist us in identifying and reviewing a wide array of strategic alternatives that can maximize value for our shareholders."
The Ccmpany does not have a defined timeline for the strategic review or sale. The Wall Street Journal notes that Frederick's filed for bankruptcy protection in 2010.
Posted on May 7, 2012