June 20 (Reuters) - Australian retailer OrotonGroup Ltd (ORL) said on Tuesday it has received expressions of interest that could involve a sale of the company and planned to begin a formal process to explore its options.
Last month, the Australian retailer hired investment bank Moelis & Co to assist it in conducting a strategic review, just as its shares plunged to a near 18-year low on a sharp decline in sales and earnings.
Oroton said its previous guidance for underlying FY17 earnings before interest, tax, depreciation and amortisation remains unchanged at A$2 million ($1.5 million) to A$3 million, even though "market conditions remain very competitive and challenging, and difficult to forecast". ($1 = 1.3179 Australian dollars)
