FINANCO TO ADVISE ON EPISODE
PHILADELPHIA — Mothers Work said it had retained Financo, a New York-based investment banking firm, to advise it in the restructuring of its Episode chain and evaluate strategic alternatives.
Mothers Work said last month the first step in the restructuring will be the elimination of 21 Episode stores, primarily in outlet center locations. Episode carries women’s bridge apparel. The 21 stores will be either closed or converted to stores carrying maternity wear.
The goal of the restructuring is to eliminate losses from Episode.
After the closings, 30 Episode stores will remain in operation.