Pep Boys considering sale

Auto parts and services retailer Pep Boys is considering putting itself up for sale.

Former CEO Mike Odell announced his resignation in September and a new chief executive, Scott Sider, a former Hertz veteran, was named just two weeks ago. In June, the company agreed to nominate three board members in order to avoid a proxy fight with shareholders, Morning Call reported.

According to the company, the board is reviewing its strategic options to boost shareholder value. In addition to a potential sale, the company is considering a merger.

The company has hired Rothschild to assist in the review, according to Fortune. A number of potential buyers have already stepped forward. Back in May, private equity firm Golden Gate Capital, the largest shareholder in Ann, Inc. (NYSE: ANN), had expressed some interest in buying Pep Boys.

Pep Boys has more than 800 stores in 35 states and Puerto Rico.

For more:
-See this Morning Call article
-See this Fortune article

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