After suffering three straight years of losses, Aeropostale is getting set to file for bankruptcy as soon as this month.
The NY-based retailer has been feuding with its main lender, Sycamore Partners, and is struggling to hang on to young customers, who have taken their cash online and to cheaper chains like H&M, Business of Fashion reports.
The new follows the retailer's recent delisting from the NYSE, and is the latest in a series of bankruptcy claims from brick-and-mortar retailers.
A bankruptcy filing, would allow the company to rapidly close a large number of its 800 stores, following the lead of department stores like Macy’s and Sears—both of which have explored REIT options to try and recoup some losses. [BOF]
