BJ's Wholesale Club (NYSE:BJ) May Be Sold

Citing a committee of independent directors, BJ's Wholesale Club, Inc. (NYSE:BJ) said after recommendations from the committee, they're exploring strategic alternatives, which could include selling the company.

Morgan Stanley (NYSE:MS) will advice the independent committee on BJ's behalf during the exploratory process.

At this time there has been no decision made on what specific direction to take, according to a press release from the company, so being sold, or any other possibility is still up in the air, and may result in no steps being taken.

BJ's operates 190 stores in 15 states, and is a membership-based retailer.

It is speculated private equity firm Leonard Green may have an interest in the company, as they have expressed interest in acquiring the company in the past.

BJ's was trading at $48.78, gaining $5.77, or 13.42 percent, as of 12:28 PM EST.