Sport Chalet Announces Review of Strategic Alternatives

According to a press release, Sport Chalet announced that its board of directors is evaluating strategic alternatives to maximize shareholder value. The board has retained Wedbush Morgan Securities as its financial adviser in this process. Here are the details: Craig Levra, Chairman and CEO, said, “While we remain focused on meeting the challenges posed by the unprecedented macroeconomic difficulties in our core market areas of California, Nevada and Arizona, the Board is evaluating all alternatives to achieve maximum value for Sport Chalet shareholders.” The review process may include such alternatives as raising additional capital, amending or replacing the Company’s current bank credit facility, further reducing expenses, or continuing to execute the Company’s current operating plan. No timetable has been set for completion of the review. The Company has no commitment or agreement with respect to any transaction, and there can be no assurance that any ... (link)