Hoosier Stores Among Aéropostale Closings
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowA national clothing chain that filed for bankruptcy today has released a list of store closings. Aéropostale Inc. (NYSE: ARO) says it will pull the plug on two Indiana locations.
The locations at College Mall in Bloomington and Jefferson Pointe Shopping Center in Fort Wayne are the only locations affected in the state. The company says the closures of all of its stores in the United States are scheduled to begin this weekend. Chief Executive Officer Julian Geiger says an ongoing dispute with the company’s second-largest supplier put "substantial strain" on the company.
"As a result, we have chosen to take more decisive and aggressive action to create a leaner, more efficient business that is well-positioned to compete and succeed in today’s retail environment," said Geiger. "We appreciate the loyalty and support of our customers, employees and business partners as we complete this process."
Aéropostale says it expects to emerge from the Chapter 11 process within the next six months. The company says it hopes to achieve long-term stability with the process.