CLEARWATER, Fla. — After receiving interest from a third party about potentially acquiring the company, Nicholas Financial announced this week that its board of directors has retained advisors to help evaluate potential strategic alternatives.

These alternatives include the possible sale of the company or certain assets, potential acquisition and expansion opportunities, in addition to possible debt or equity financing.

The board has hired Hyde Park Capital Advisors to serve as an independent financial advisor to explore the various opportunities available.

"The company cautions its shareholders and others considering trading in its securities that its board of directors only recently received the indication of interest, and that the process of considering this proposal as well as other possible strategic alternatives for the company is only in its beginning stages," management reported.

"The board of directors will proceed in an orderly and timely manner to consider possible strategic alternatives for the company and their implications. Accordingly, no assurances can be given as to whether any particular strategic alternative for the company will be recommended or undertaken, or if so, upon what terms and conditions. The company currently does not intend to make any further public announcements regarding its board of directors' review of possible strategic alternatives until this evaluation process has been completed," the team continued.

Nicholas Financial is a leading publicly traded specialty finance company operating 54 branches in both the Southeastern and Midwestern states.

It has about 11.8 million shares of common stock outstanding.