- Struggling teen apparel retailer Aeropostale (NYSE:ARO) has filed for Chapter 11, marking the latest high-profile bankruptcy that follows meltdowns at American Apparel, Quiksilver and Sports Authority.
- According to a court filing, the company listed assets and liabilities in the range of $100M-$500M, and plans to emerge from the Chapter 11 process within the next six months as a standalone enterprise with a smaller store base.
- The NYSE suspended trading and delisted Aeropostale shares on April 21.