Aeropostale files Chapter 11, closing 113 U.S. stores

May 4, 2016

Teen clothing retailer Aeropostale has filed for Chapter 11 bankruptcy and plans to support ongoing business with a $160 million loan.

The retailer, according to a Reuters report, has liabilities of $100 million to $500 million and will be closing 113 U.S. stores and 41 Canada locations. The goal, according to Reuters, is to exit bankruptcy within six months.