Teen Apparel Chain Aeropostale Files for Bankruptcy Protection

Published date: April 28, 2017
Modified date: April 28, 2017
  • Location: Europe

Struggling teen apparel retailer Aeropostale Inc. filed for Chapter 11 bankruptcy protection on Wednesday, succumbing to years of losses as shoppers moved on to fast-fashion retailers and online competitors.

Aeropostale said it plans to finance its operations during its bankruptcy through a $160 million loan from Crystal Financial LLC combined with operating cash flow, 

The company said it expects to emerge out of bankruptcy within six months with a resolution of its disputes with former shareholder Sycamore Partners, which had thrown a lifeline of $150 million to the retailer in 2014.

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