Retailer tells potential buyer 'thanks, but no thanks'

A week after receiving a buyout offer, Fort Myers-based Chico’s FAS' board of directors remains steadfast in its strategy — saying a resounding “thanks, but no thanks” to its suitor, an inside job by its largest shareholder, New York private equity firm Sycamore Partners. 

In the process, the company proclaimed interim CEO Bonnie Brooks and the talent pool available to replace departed CEO Shelley Broader as salve for the company’s persistent fiscal wounds.