Charlotte-based Belk considers sale
CHARLOTTE, N.C. (AP) - Charlotte department store chain Belk is considering a possible sale.
The company issued a statement Thursday saying it was considering all options for its future.
Belk said it has retained the Goldman Sachs investment bank to help study its best options. That process is expected to take several months.
There are almost 300 Belk's stores in 16 Southern states.
The company has more than 1,300 employees at its corporate offices.
The Belk name appears on a freeway, a college bowl game, the business school at the University of North Carolina Charlotte and philanthropic initiatives in Charlotte.
Goldman Sachs would not talk about the situation.
Belk was founded in Monroe in 1888 by William Henry Belk. Most of Belk's 41 million shares of stock are still owned by the Belk family.
Copyright by WSLS - All rights reserved