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BJ's Wholesale Club on Thursday said it had decided "to explore and evaluate strategic options, including a possible sale of the company."
Which only confirms what the industry has known for months: There is an auction at the retailer.
And BJ has hired Morgan Stanley to run the process. In November, the people on this issue said DealBookk if the auction got under way after private equity firm Leonard Green & Partners is a takeover overture.
In July as a candidate seen to be attractive for the buyer, after Leonard Green acquired a 9.5 percent stake. (Leonard Green also trading for Jo-Ann stores, and TPG Capital, J. struck).
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• The company's statement
The company has little debt and $ 65800000 in cash on hand, according to Capital IQ. Buy stores open more than a year have been disappointing of late, however. In the past month, and BJ plans to close five underperforming stores announced.
BJ, based in Natick, Massachusetts, 187 warehouse clubs in 15 states. It has a total investment value of $ 2280000000.
Club Loblaw retail supermarket chain of warehouse clubs owned company with locations across Canada. Products such as confectionery, dairy, deli, frozen foods, administrative, sales, PHOTOLAB, public, pharmacy, meat and poultry, produce, seafood, snacks.
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