Nordstroms Aims To Go Private
E-commerce retailers are squeezing traditional brick-and-mortar stores around the country. More than 30 retailers filed for bankruptcy between January and November 2017. The Nordstrom family is moving forward with efforts to take the retailer private, which would allow Nordstrom to reshape its business and make long-term changes without scrutiny from investors. The company has had difficulties in the past finding the financing needed to go private. It’s unclear whether the holiday sales growth of 2.5 percent will help. Nordstrom stock, recently told the Business Journal going private would allow Nordstrom to escape “retail hell.” CNBC reports the deal stalled because of uncertainty over the future of retail.
