Angelica Assesses Life Uniform Segment

Saint Louis-based marketer/manufacturer Angelica Corp. (NYSE:AGL) has hired New York investment bank Morgan Joseph & Co. to review strategic alternatives for its struggling Life Uniform segment. In a company release, Life Uniform segment, which sells scrubs and uniforms to healthcare professionals through catalogs, the Internet, and stores, continues to under-perform as same-store sales are down 8% for the first eight months of the fiscal year.

"Life Uniform continues to be the retail leader in providing uniforms to healthcare personnel,” said Steve O'Hara, Angelica's new president/CEO in a statement. “However, as we embark on a program to improve its profitability, it is timely to reassess its marketplace value and overall fit with our focus on better serving hospitals through Angelica Textile Services.” The company also said that Denis Raab, president of Life Uniform, has resigned. During the strategic alternative process, O'Hara will assume Raab's responsibilities.