BJ’s Wholesale to explore sale of company

Natick, Mass. -- BJ’s Wholesale Club confirmed on Thursday that it will potentially put it up for sale. According to a report by the New York Times, the discounter said it will “explore and evaluate strategic alternatives, including a possible sale of the company,” confirming ongoing market rumors that BJ’s was a buyout candidate. The report said that BJ’s has hired Morgan Stanley to run the sales process. Private equity firm Leonard Green & Partners acquired a 9.5% stake in the retailer last July. In January, BJ’s announced it would close five underperforming stores.