The 370-store chain, which was acquired by Golden Gate Capital at a bankruptcy auction in 2009 with a cash bid of $286 million, has hired Guggenheim and Fianco to explore strategic alternatives, including a possible sale, according to Reuters. The company is seeking relief from a $225 million term loan due 2020 and a $200 million revolver that comes due in 2019.
Bauer has seen ratings downgrades by Moody’s and Standard & Poor’s recently, according to Reuters, on revenue declines and margin erosion. It has been trying to reinvent itself. Under former TNF Americas chief Mike Egeck, it promised a return ... Log in to view full article.