(Nov. 1) CARTERET, N.J. — Two days after having lowered its earnings estimates, retail chain Pathmark Stores Inc. is reportedly going on the block.

The Newark Star-Ledger reported Oct. 27 that the 142-store chain, based in Carteret, had hired investment bank Dresdner Kleinwort Wasserstein to find a buyer for the company.

On Oct. 25, Pathmark said its full-year results would miss earlier forecasts because of tighter margins brought on by price cuts designed to compete with chains like Wal-Mart Stores Inc. and Wegman’s Food Markets Inc. — two companies that are making gains in Pathmark’s core market of New York, New Jersey and metropolitan Philadelphia.

Shares in the company dropped to their 52-week low of $3.20 on the day of the announcement.