After being pressured by several outside forces, Aeropostale has finally declared bankruptcy. They plan on closing 113 stores across the U.S. and 41 stores in Canada. This decision comes almost immediately after they were delisted from the stock market after losing 95 percent of its value over the past two years. They're worth about a penny a stock now.
The company released a statement that shows they have been losing money for 13 straight quarters. It also showed that they have $354 million in assets while $390 million in debt. The company hopes to emerge from bankruptcy within the next six months and has already received $160 million in financing from crystal financial LLC.
-Alex Panell
The company released a statement that shows they have been losing money for 13 straight quarters. It also showed that they have $354 million in assets while $390 million in debt. The company hopes to emerge from bankruptcy within the next six months and has already received $160 million in financing from crystal financial LLC.
-Alex Panell