Nordstrom Family Explores Taking Retailer Private

Nordstrom Family Explores Taking Retailer Private

Company board forms special review committee

Nordstrom Inc.’s board of directors has formed a special committee as part of the Nordstrom family’s decision to explore the possibility of taking the retailer private.

The company said in a statement Thursday that members of the Nordstrom family formed a group to explore a plan that could involve family members buying 100% of Nordstrom’s outstanding shares of common stock. Members of the family group include Nordstrom’s Co-Presidents Blake Nordstrom, Peter Nordstrom, and Erik Nordstrom; President of Stores James Nordstrom; Chairman Emeritus Bruce Nordstrom; and Anne Gittinger.

A proposal has not yet been presented to the company board, and no time line was provided by the family.

The board’s special committee has retained Centerview Partners LLC to serve as its financial advisor.