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.
Synopsis Canadean's "Aeropostale, Inc. : Retailing - Company Profile, SWOT & Financial Report" contains in depth information and data about the company and its operations. The profile contains a compa...
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