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Perfumania expands review of strategic alternatives

Published 29 May 2017

Perfumania, an American specialty retailer and distributor of fragrances and related beauty products, said that a special committee of independent directors is mulling at various alternatives to solve the company’s financial condition.

The Company previously announced that it is reviewing and updating its sales strategy in order to improve operating results. The special committee is also considering the Company’s capital structure and has contacted the Nussdorf family, who in the aggregate are the owners of approximately 50% of the Company’s outstanding common stock and the majority of the Company’s debt, to begin discussions over possible alternatives that could  result in value to all shareholders.

The Company does not have a defined timeline for the strategic review process, and there can be no assurance that it will result in any strategic alternative being announced or consummated.

The Company does not intend to disclose further information regarding this process unless and until its Board of Directors has approved a specific action or otherwise determined that further disclosure is appropriate.

Source: Company Press Release