How’s this for a vote of confidence? The No. 1 mall developer, Simon Property Group, thinks struggling and recently bankrupt teen apparel chain Aéropostale could bounce back in a major way and potentially double its store fleet.
The retailer, a mall fixture for years, was bought out of bankruptcy in September by a group of investors that included Simon and the No. 2 mall developer, General Growth Properties, The new owners, which also included Authentic Brands Group, and liquidators Hilco and Gordon Brothers, submitted a winning $243 million bid that avoided outright liquidation of the whole chain and aimed to keep it going as a 240-store chain, down from a pre-bankrupctcy size of 800-stores.. . . more