Kekst & Co. is handling beleaguered retailer Abercrombie & Fitch's decision not to shop itself.
The company, which lost $61M on $661M first-quarter revenue, had been discussing a potential transaction with several suitors.
Those talks have been put on ice.
"After a comprehensive review of all relevant factors, with the assistance of our financial advisor, the A&F board of directors determined that the best path to enhance value for stockholders is the rigorous execution of our business plan," Arthur Martinez, executive chairman, said in a statement.
A&F is upbeat about remaining independent due to "solid comparable store sales momentum" at its Hollister brand, as well as "strategies to position the Abercrombie brand for revitalized performance."
Martinez anticipates A&F's "sound aggressive action" will deliver "enhanced performance and long-term stockholder value."
Dawn Dover of Kekst represents A&F.
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