Aéropostale is in trouble with debts
- Textile Today News Desk,
July 20, 2016 4:42 PM
Renowned teen cloth chain Aéropostale is suffering liquidity crisis to cover its debts and operational costs. MGF Sourcing, a Sycamore-backed supplier, triggered the Chapter 11 filing for Aéropostale when it breached its payment terms. After the filing on May 11 the brand on 15th July has told that "reorganization on a standalone basis is not feasible."
The company currently operates more than 700 Aéropostale stores in the United States, Puerto Rico and Canada and 25 P.S. from Aéropostale stores in the United States. In addition, company authorized licensees currently operate more than 300 Aéropostale and P.S. from Aéropostale retail locations in the Middle East, Asia, India, Europe and Latin America.