Retail Industry
Industry: Email Alert RSS FeedCUSTOM SHOP REPORTEDLY ON THE BLOCK; SOURCES SAY NEW OWNERS HAVE RETAINED INVESTMENT BANKING FIRM.
Daily News Record, December, 2000 by PALMIERI, JEAN E.
NEW YORK -- The Custom Shop is being shopped.
According to one retailer who reviewed financial information on the 52-unit chain and Web site, Custom Shop has retained an investment bank to explore its strategic alternatives, which include refinancing, new investors, partners or an outright sale.
However, Custom Shop CEO Timothy Belton dodged reports of a sale and declined to comment either on the existence of a "book" -- a document put together by investment banks to shop a company -- or the consideration of various strategic alternatives.
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