The past few years haven’t exactly treated teen retailers well: DEB, Wet Seal, and dELiA*s (although it came back as an online-only store) are just a few of the brands that have filed for bankruptcy. Another once-popular teen-focused retailer is joining that list as Aeropostale is said to be prepping its own bankruptcy filing.
After years of losses, the teen-clothing retailer — which operates 800 stores nationally — is supposedly looking to reorganize under Chapter 11, Bloomberg, citing people familiar with the matter, reports.
The retailer, which is still looking for ways to avoid a filing, is working on a loan to finance its operations during the looming bankruptcy process.
News of a pending bankruptcy filing comes just a week after the retailer said it would delay filing its annual report while it evaluated strategic alternatives, Bloomberg reports.
Aeropostale Said to Prepare Bankruptcy Filing as Soon as This Month [Bloomberg]
by Ashlee Kieler via Consumerist
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