The activist investor group that’s searching for to purchase Macy’s elevated the stress on the division retailer chain on Sunday, elevating its supply and disclosing further particulars about its financing plans.

Arkhouse Administration and Brigade Capital Administration mentioned in a news release that they had been now providing $24 per share, valuing the retailer at $6.6 billion. The brand new supply is up from the $21 a share they final put ahead and a 33.3 p.c premium to Macy’s closing share worth of at $18.01 on Friday.

Arkhouse and Brigade named further traders they’d introduced on as fairness companions, Fortress Funding Group and One Funding Administration. Arkhouse and Brigade additionally mentioned, in an obvious response to Macy’s questions on its financing, that they’d “recognized giant world institutional financing sources” that “characterize 100% of the capital required to purchase the shares in Macy’s we don’t already personal.”

The retailer has been going through stress from the investor group since December, when the group submitted a bid that might take Macy’s non-public at a worth of $5.8 billion. Arkhouse mentioned that until the retailer started sharing nonpublic info, it’d take its supply to shareholders. The investor has since nominated 9 individuals to Macy’s board.

Macy’s on Sunday mentioned it could “rigorously evaluation and consider” the newest proposal.

“The Macy’s Inc. board has a confirmed observe report of evaluating a broad vary of choices to create shareholder worth, is open-minded about one of the best path to realize this goal and is dedicated to persevering with to take actions that it believes are in one of the best pursuits of the corporate and all Macy’s Inc. shareholders,” the corporate mentioned in an announcement.

The retailer has been making an attempt to remain centered by itself technique for turning across the enterprise.

Final week, Macy’s introduced a method that might vastly change the make-up of the corporate. It mentioned it could shut 150 of its namesake shops over the course of three years, whereas additionally opening extra places of Bloomingdale’s and Bluemercury, its upscale chains.

“I hope we get to shut on the corporate earlier than they begin these retailer closures,” Gavriel Kahane, a managing associate at Arkhouse, mentioned in an interview.

Matt Perkal, associate and head of particular conditions at Brigade, mentioned the “proposal presents one of the best path ahead for Macy’s shareholders by permitting them to profit from the numerous unrealized worth of the corporate.”

As a division retailer, Macy’s has struggled to win over clients who’re more and more procuring in an e-commerce world as enclosed malls shutter. Macy’s has recorded falling gross sales for the previous few quarters.

Its new chief govt, Tony Spring, who spent his four-decade profession at Bloomingdale’s, has acknowledged that the procuring expertise at Macy’s isn’t a nice one. Consumers usually encounter messy shops with poorly displayed garments and have problem discovering workers. The retailer mentioned that it deliberate to have 350 remaining places by the tip of 2026 and that the capital gained from its closings would stream to the remaining shops.

Mr. Kahane mentioned that if the corporate had been taken non-public, the traders would deal with turning across the division retailer enterprise, a feat that he argued could be simpler if the retailer had been a personal firm. He additionally pushed again towards analyst hypothesis that he needed the retailer just for its actual property.

“So we’re clearly right here for the actual property proper,” Mr. Kahane mentioned. “We’re right here as a result of we expect they’ve a variety of actual property on steadiness sheet, and that actual property is efficacious as a result of it has a terrific tenant in it.”

He performed down hypothesis from some retail analysts that the traders had been merely hoping for one more purchaser to leap in entrance of them.

“I’ll really feel a lot worse if somebody is available in and beats us right here,” Mr. Kahane mentioned. “I’d even be far more stunned.”