Word on the street is the family-owned and operated department store chain Belk is seeking a sale that could be valued at up to $4 billion, including debt.

A source revealed to Reuters that the Charlotte, North Carolina-based retailer, which operates 297 locations throughout the south as well as an online store, has hired investment bank Goldman Sachs to explore a potential sale. Macy’s, Bon-Ton and Nordstrom, as well as large private equity firms, are expected to be contacted.

Read more at Sourcing Journal.

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