Report: Fragrance retailer exploring options

Declining mall traffic is taking a toll on Perfumania.



Perfumania Holdings Inc. has hired advisers to explore strategic alternatives, including a debt restructuring, Reuters reported. It also plans to negotiate with landlords to exit some of its 313 Perfumania stores.



The company recorded debt of approximately $164 million on Oct. 29 and $2.1 million in cash and cash equivalents, the report said.



In addition to its freestanding stores, Perfumania has a wholesale businesses, Parlux, which holds the exclusive distribution rights to a variety of fragrances from celebrities, including Ivanka Trump, Rihanna, Jessica Simpson and Jay Z.