Perfumania Holdings Expands Review Of Strategic Alternatives

(RTTNews) - Perfumania Holdings, Inc. (PERF), a U.S. specialty retailer and distributor of fragrances and related beauty products, said that a special committee of independent directors is considering various alternatives to address the company's financial condition.

The company previously said 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 percent 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.

Perfumania said it 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.

Further, 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.