US: Aeropostale said to be seeking potential buyers
Last month, Aeropostale swung to a third-quarter loss
Struggling teen apparel retailer Aeropostale is understood to have contacted at least two private equity firms about a possible sale.
According to Bloomberg, the retail group has also contacted investment banks to gain assistance in dealing with pressure from activist investor Crescendo Partners or running a sale process.
Last month, Aeropostale swung to a third-quarter loss of US$25.6m and a 15% decline in comparable sales.
A month earlier, Crescendo Partners sent the company's board a letter urging it to immediately start a sale process. In response, Aeropostale adopted a so-called 'poison pill' stockholder rights plan aimed at warding off unwanted takeover attempts.
The retailer, however, is not in talks to sell itself yet, sources told Bloomberg.
Aeropostale did not return a request for comment at the time of going to press.
Private equity firm Sycamore Partners has indicated it is interested in purchasing troubled US apparel retailer Express Inc....
Troubled women's wear retailer Coldwater Creek will be relaunched as an independent company as part of a deal with private equity firm Sycamore Partners, which has acquired the brand and other intelle...
- Improved supplier capabilities benefit Next
- THE FLANARANT: Understand win-win or lose out
- China and Vietnam lead US apparel imports in July
- Retailers voice concerns on Scottish independence
- Next H1: What the analysts say
- H&M goes green with Conscious Denim
- TPP talks "make progress" but issues remain
- Under Armour "resonating strongly" with consumers
- Adidas defends position despite investor unrest
- Brandix selects first "game-changing" innovations
- Apparel Market in China to 2018 - Market Size, Trends, and Forecasts
- Wool in the 21st Century: new prospects for a familiar fibre
- Global market review of denim and jeanswear – forecasts to 2020
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details
- Global Database of the Top 1000 Cut and Sew Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details