Aeropostale Inc. settled a dispute with lenders that threatened to scuttle a potential bid from a Versa Capital Management unit to buy the teen-clothing chain out of bankruptcy.
Capital Fund III is working with Aeropostale to make a binding opening
offer for its assets at an auction. The retailer won court approval
Monday to pay expenses the Versa affiliate has incurred preparing the
so-called staking horse bid, clearing the way for the companies to
possibly reach a deal on the offer by Aug. 11. Competing bids would be
due by Aug. 18 and the auction would be held Aug. 22.. . . more