Kohl’s ends talks of selling company

Last week, it announced it was ending talks of selling its company and was no longer considering a sale to Franchise Group Inc., the latest bidder for the struggling retailer.

“Despite a concerted effort on both sides, the current financing and retail environment created significant obstacles to reaching an acceptable and fully executable agreement,”. “Given the environment and market volatility, the Board determined that it simply was not prudent to continue pursuing a deal.

“Kohl’s is a financially strong company that generates substantial free cash flow and has a clear plan to enhance its competitive position and improve performance over the long term,” Boneparth added. Franchise Group, which owns brands such as American Freight and The Vitamin Shoppe, made an $8 billion offer to acquire Kohl’s. Earlier in the year, shopping mall giant Simon Property and Canada-based Brookfield Asset Management, operators of JC Penney,The two were among 25 parties that made offers for Kohl’s, which operates more than 1,100 locations nationwide.

Note to readers: if you purchase something through one of our affiliate links we may earn a commission.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ashanti Celebrates 20 Years Since Breakthrough Album & Talks Launching Web3 Company: It’s ‘A Priceless Feeling’Ashanti is rerecording her No. 1 debut album and taking ownership of her future with a new documentary, children’s book and exciting music on the way. ashanti Rap god of hip hop Eminem
Source: billboard - 🏆 112. / 63 Read more »

Company seeks FDA approval for 1st birth control pill women could buy without prescriptionIf the FDA grants the request, women would be able to buy the pill from HRA Pharma over the counter, similar to common pain relievers. The only reason this won't get approved is if insurance companies lobby against it birth control pills may prevent pregnancy- but... they don't stop STDs (a condom is still required) & more importantly- they cause breast & uterine cancer.- SayNoToBirthControlPills
Source: ABC7 - 🏆 67. / 68 Read more »