Friday, September 2, 2016

Aeropostale Auction Won by Simon Property, General Growth Group

Image result for aeropostaleA consortium led by Simon Property Group Inc. and General Growth Properties Inc. won an auction for the assets of Aeropostale Inc., with a plan to keep open 229 of the the bankrupt teen retailer’s stores.

The bidding group will also keep the chain’s online business and licensing operation up and running, according to a statement late Thursday. A Manhattan bankruptcy judge must still approve the deal after reviewing the terms and any objections. A hearing on the matter has been set for Sept. 12. . . . more

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