Wednesday, August 31, 2016

Aeropostale stores get potential lifeline with late bid

Sweatshirts are displayed for sale in an Aeropostale Inc. store in September 2013.A surprising late bid in the auction for bankrupt Aéropostale held out the promise that 229 stores of the teen retailer might be saved, the Wall Street Journal reported late Tuesday.

The $243.3 million bid came from a consortium of parties that included Simon Property Group and General Growth Properties — two companies that are landlords to Aéropostale stores — as well as Authentic Brands Group. Joining in were liquidators Gordon Brothers Retail Partners LLC, and Hilco Merchant Resources LLC, sources told the Journal.. . . more

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