Recent reports state that Zale Corp has officially denied having hired investment bank Rothschild for its restructuring. The company has although mentioned that it would be re-looking into its business operations as it usually does post the holiday season.

It was reported in a leading media that Zale was seeking assistance from Rothschild to appraise several restructuring options next year. Zale has been facing a sharp fall in its sales and rising debt since over a year, owing to the economic slowdown that dampened demand for diamond jewellery.