Comment on Aéropostale lands bankruptcy deal to keep 230 stores open

Aéropostale lands bankruptcy deal to keep 230 stores open

Aéropostale has landed a bankruptcy deal that will allow it to keep about 230 stores open and avoid extinction. The teen clothing retailer filed for Chapter 11 bankruptcy in May with about 800 stores still open. For much of the proceedings, it appeared as if Aéropostale would be forced to liquidate its assets, which would essentially erase the brand from American retail. But two mall operators -- including Simon and General Growth -- swooped in with a $234 million bid, promising to keep about 230 U.S.

 

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