Belk Seeks Sale

Belk Inc is exploring a sale that could value the largest family-owned and operated department store chain in the United States at as much as $4 billion, including debt, people familiar with the matter said on Thursday. Belk has hired investment bank Goldman Sachs Group Inc to help it evaluate strategic alternatives, including a potential sale, the people said. Major department stores, such as Macy's and Nordstrom, as well as large private equity firms are expected to be contacted by Belk to solicit their interest in a deal, the people added.