Report: BJ’s close to hiring adviser for possible sale

New York City -- A report circulated Wednesday said that BJ's Wholesale Club may be close to hiring an adviser to explore strategic alternatives.

According to the New York Post, which cited an unnamed source, one alternative could be a sale to a private equity firm.

The sale of the No. 3 U.S. warehouse club operator could command as much as $3 billion, the Post said. Los Angeles-based private equity firm Leonard Green & Partners is seen as the most likely buyer, according to the report. Earlier this year, a fund run by Leonard Green said it had taken a 9.5% stake in BJ's and that it may propose taking the company private.