Keyword: Sycamore Partners
Aeropostale has been rescued from liquidation by a consortium of vendors, liquidators and mall operators, and more stores than expected will remain open.
Department store chain Belk is opening a stand-alone store for its Crown & Ivy private label in Raleigh, North Carolina.
A last-minute bid by a consortium led by property managers has won the auction for Aeropostale assets, and plans to keep 229 stores open and the brand intact.
Aeropostale has been thrown a lifeline in the form of a bid to buy assets that could keep some of the company's stores open.
Aeropostale's fate is in limbo as its largest creditor pushes for liquidation in what could be the final chapter for the chain.