Pending sale of Chico’s FAS caps turnaround of women’s clothing company

Author: David Dorsey, Gulfshore Business
Published: Updated:

Five years ago, the stock price of Chico’s FAS was falling, and the women’s fashion company that had been born of humble roots with positive vibes on Sanibel Island faced a string of negative headlines.

Five years and three CEOs later, the clothing store with about 1,500 employees and three brands based in Lee County announced its sale. A $1 billion deal with New York-based private equity firm Sycamore Partners will convert Chico’s FAS from a public to private company by the end of this year, according to statements from both parties.

Both companies declined to comment beyond the transactional news and prepared statements, but Gulfshore Business interviewed Chico’s FAS’ founders and a New York City attorney who has been involved with similar deals.

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