(Reuters) – Activist hedge fund Macellum Advisors GP LLC said on Tuesday Kohl’s Corp should explore strategic alternatives, including a sale, if the department store chain’s board is “unwilling to pursue improvements.”

Macellum also said there were well-capitalized strategic and financial buyers that could pay a meaningful premium to acquire Kohl’s.

(Reporting by Praveen Paramasivam in Bengaluru; Editing by Ramakrishnan M.)