Jul
18

Aeropostale Seeks to Auction Assets in Bankruptcy Wind-Down

By
  • Reorganization as standalone ‘is not feasible,’ retailer says
  • Chain weighing possible claims against Sycamore Partners

Teen clothing chain Aeropostale Inc. is preparing to sell all its assets and may bring claims against the private equity firm it said drove it into bankruptcy.

The New York-based company said in court papers July 15 that “reorganization on a standalone basis is not feasible.” Instead, it will look for a “stalking horse” to make the lead bid at an auction next month and will pass the proceeds of any sale to creditors.

The retailer also said it’s still reviewing 11,000 pages of documents and depositions of key individuals that senior lender Sycamore Partners produced during a bankruptcy probe and is evaluating whether to pursue claims against the private equity firm and affiliates…

Aeropostale Seeks to Auction Assets in Bankruptcy Wind-Down

Share
Categories : Uncategorized

Leave a Reply

You must be logged in to post a comment.