Pursuits
Aeropostale Said to Prepare Bankruptcy Filing as Soon as This Month
- Teen retailer would seek protection after years of losses
- Aeropostale has been in dispute with its main lender, Sycamore
This article is for subscribers only.
Aeropostale Inc., the teen-clothing chain that has suffered years of losses, is preparing to file for bankruptcy as soon as this month, according to people familiar with the matter.
The company is looking to reorganize under Chapter 11, said the people, who declined to be identified because the matter isn’t public. Aeropostale is trying to work out a loan to finance its operations during the bankruptcy process, according to the people. A deal to avert a filing or find a buyer also could still emerge, they said.