Pursuits
Aeropostale Seeks to Auction Assets in Bankruptcy Wind-Down
- Reorganization as standalone ‘is not feasible,’ retailer says
- Chain weighing possible claims against Sycamore Partners
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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.