Struggling Aéropostale expected to complete Chapter 11 Bankruptcy
Posted on Thursday, September 15th, 2016 at 5:56 pm
American teen clothing company Aéropostale is expected to exit from Chapter 11 Bankruptcy, giving them a possibility to improve their business, an article of Fortune reported on September 13.
Reports said Aéropostale will continue to operate with 229 outlets after a federal judge gave them a go signal to maintain 7,000 employees and continue operations. The struggling clothing company filed for bankruptcy in May. Landlords Simon Property Group and General Growth Properties made a $243 million bid to save most of the stores from being liquidated. Though Aéropostale was given a relief in the process with much smaller operations, they will need to adjust to their direct competitors who have established their names in the clothing industry.
Chapter 11 Bankruptcy, fortunately, is a viable option for entrepreneurs who want to improve their financial footing. If you are in such situation, we may be able to offer you legal options so you can recover from your burden. Find out how the attorneys at the Bradford Law Offices, PLLC may advocate on your behalf today by calling (910) 668-0006.