Sycamore Partners LP said on Friday struggling women's apparel retailer Chico's FAS Inc has declined to engage with the private equity firm on its cash offer to buy the company for $407.8 million.
In an SEC filing, Sycamore disclosed a 6.6% stake in the company, making it the fourth largest shareholder in Chico's. The private equity had offered about $3.50 per Chico's share, a discount of 5.4% to the company's Thursday close.. . . more