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Zales Looks To Restructure.
Bloomberg News reports today that Zale Corp. has hired investment bank Rothschild, for the purpose of evaluating restructuring options.
Zale has posted significant losses during the last seven consecutive quarters and has closed more than 200 locations in the 2009 fiscal year.
Most recently, reports late last week stated Zale Corp. has canceled some orders with suppliers during the vital holiday season.
During November, a month which has typically represented approximately 25 percent of Zale’s total revenues for the second quarter, Zale reported an 18.6 percent drop in comparable store sales.
Stay tuned.
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