Aeropostale Preparing To File For Bankruptcy
PITTSBURGH (KDKA) -- Aeropostale Inc. is the latest company to file for bankruptcy.
The Wall Street Journal reports the teen-apparel retailer will seek Chapter 11 bankruptcy protection sometime in the next few days.
The company is also expected to close more than 100 stores due to sluggish sales.
Aeropostale has five stores in the Pittsburgh area.
No word on if those stores will be among the stores to close.
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The company, which had 21,000 employees as of January 2015, has posted losses in its last three fiscal years amid a steep decline in sales.
