Canadian lingerie chain La Senza Corp on Wednesday announced it has put its struggling Suzy Shier clothing chain up for sale.

The Montreal-based company said in a news release it is studying all strategic alternatives for the 180-store brand to improve its overall performance and had a net book value of about C$20 million as of February 1, prior to writedowns.

Chairman and CEO, Irving Teitelbaum, stated: "We have said on numerous occasions that the future of the La Senza Corp and the focus of the organisation is in the expansion and development of the La Senza brand in Canada and around the world."

"The change of name of the company two years ago was evidence of this commitment to the brand strategy and this is but the next logical step in our evolution into a world-wide branded apparel retailer."

La Senza currently operates nearly 500 stores under banners including La Senza and Silk & Satin.