Discount clothier Syms may be hanging it up for good.
The 52-year-old retail chain — whose late founder Sy Syms had long proclaimed on late-night TV that “an educated consumer is our best customer” — has hired the investment bank Rothschild to explore strategic options including a possible sale of the company, The Post has learned.
As first reported last week by The Post, a big shareholder urged Syms’ board in a letter dated May 19 to sell the retailer or at least cash in on its real estate, arguing its properties are worth more than $200 million.
Syms shares yesterday lost 10 cents, or 1.3 percent, to close at $7.45, giving the company a market capitalization of $107.6 million.
A Syms spokeswoman declined to comment yesterday. According to one source, the retailer tapped Rothschild about a month ago.
The move comes as the retailer’s board has lately grown more assertive versus CEO Marcy Syms as performance has continued to deteriorate amid increasingly fierce competition, sources said.
This spring, sources said Syms’ business been lackluster following a disappointing 2010, when the company was forced to sell a store in Rockville, Md., for $15 million to offset its full-year operating loss.
“The board lately has taken a more active role in the direction and the operations,” according to a source.
For decades, Syms had racked up profits by selling overstocked merchandise at a discount. But flurry of new off-price retailers — most recently fast-growing Web sites like Gilt Groupe and Rue La La — have stolen away shoppers.