Gottschalks on the Block

Gottschalks (GOT Quote) put itself on the block.

The Fresno, Calif., specialty retailer said its board formed a special strategic committee to identify and evaluate alternatives including a revised business plan, operating partnerships, joint ventures, strategic alliances, share repurchases, a recapitalization, and a sale or merger.

"The Board is confident in the core business of the Company and, as fiduciaries to the Company's shareholders, wants to ensure that the value of the Company is adequately reflected in the public markets," said Chairman Joe Levy. "The special committee, which consists of Jim Czech, Jim Famalette, Joe Penbera, Jorge Pont-Sanchez, Jim Woodward and myself, will review all alternatives, ensure a thorough process and make associated recommendations to the full Board of Directors for consideration."