PERRY ELLIS SHARES RISE: Shares of Perry Ellis International Inc. rose nearly 2.8 percent to $23.58 as talks about a possible sale resurfaced on Friday. According to WWD in August, the father-and-son team of George Feldenkreis and Oscar Feldenkreis, who have enjoyed a long-standing partnership at Perry Ellis and, before that, Supreme International, have been considering a sale of the Miami-based company, of which they hold more than a fifth of the shares.
WWD has learned that, over the past few months, the two have been quietly speaking to possible buyers on their own as well as meeting with funding sources, such as Bank of America and investment banker Peter J. Solomon, about both a sale of the company and alternative options, such as the shedding of non-core assets.
An individual familiar with their reach out to potential buyers said the talks are just preliminary discussions and that no agreement has been signed with anyone. Further, with Perry Ellis considered the key brand in the portfolio, that leaves a stumbling block for any buyer: What do you do with the other brands that Perry Ellis owns? Another question is what involvement the Feldenkreises would have, if any, in the Perry Ellis brand should it be sold to a new owner.
Anita Britt, the company’s chief financial officer, declined comment.