Aéropostale allowed to emerge from bankruptcy filing
Posted on Thursday, September 15th, 2016 at 6:19 pm
A federal judge recently gave a go signal to teen clothing company Aéropostale, allowing them to exit from the Chapter 11 Bankruptcy they filed, a September 13 article of Fortune reported.
Reports revealed that General Growth Properties and Simon Property Group, which partly own 229 outlets of Aéropostale, made a $243 million bid to prevent the troubled company’s assets from being liquidated. The federal court reportedly decided Aéropostale’s fate by considering its 7,000 employees. Aéropostale used to have 800 outlets. However, nearly 600 of their outlets were closed from operation after the company filed for bankruptcy in May. Aéropostale is expected to make major improvements as they move forward.
The attorneys at the Bradford Law Offices, PLLC represent business owners in Raleigh who decide to seek financial relief by filing for bankruptcy. We strongly believe that business owners are entitled to second chances to improve their ventures. Call us today at (919) 758-8879 to learn more about your options.