Business
School Specialty Announces Exploration of Strategic Alternatives
School Specialty Announces Exploration of Strategic Alternatives.
About this update from School Speciality Inc
[{"type":"text","content":"\n GREENVILLE, Wis., Oct. 09, 2019 (GLOBE NEWSWIRE) -- School Specialty, Inc. (OTCQB: SCOO) (“School Specialty”, “SSI” or “the Company”), a leading provider of innovative products, learning materials and solutions that support integrated learning environments today announced that its Board of Directors, in conjunction with its legal and financial advisors, has commenced a formal process to explore and evaluate potential strategic alternatives focused on maximizing shareholder value.  The Company has previously disclosed that it has been working with a financial advisor to address its capital structure and has expanded these efforts to include the review of a full range of strategic and financing alternatives, which may include a sale of the Company or other business combination.  The Board will carefully evaluate and consider all potential options and will make a decision that reflects the best interest of all shareholders.  Our entire team remains committed to serving our customers throughout this process.  “School Specialty’s Board of Directors is fully committed to the evaluation and consideration of all potential strategic alternatives while we continue to support the Company’s employees in their important mission to deliver innovative products and solutions to our valued customers,” said Gus Halas, Chairman of School Specialty.  “We strongly believe that fully exploring multiple paths is in the best interest of our employees, suppliers, financial partners and shareholders.” The Company’s Board has not established a timetable for this process and has not made any decisions related to any potential strategic alternatives at this time.  Accordingly, there can be no assurance that this process will ultimately result in a transaction or what the timing would be.  The Company will not provide further updates unless it determines that additional disclosure is appropriate and necessary.  Houlihan Lokey is acting as financial advisor to the Company.  Godfrey & Kahn, S.C. is acting as legal advisor. About School Specialty, Inc.School Specialty designs, develops and delivers the broadest assortment of innovative and proprietary products, programs and services to the education marketplace, including essential c...