Store logo signOpening of J Crew Store in Regent Street, London, Britain - 08 Nov 2013

The struggling J. Crew Group is “actively exploring strategic alternatives to maximize the value of the company,” including a potential initial public offering of its Madewell business.

The company said the IPO, if pursued, could be completed as early as the second half of 2019.

Separately, Michael J. Nicholson, president and chief operating officer, has been named interim chief executive officer of J.Crew Group. the company has been searching for a ceo since the departure of Jim Brett last fall.