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...
- MYANMAR SNAPSHOT: Textile and apparel industry
- Clothing seen as central focus for new Tesco CEO
- Alliance members buy more products from Bangladesh
- Indian apparel exporters discuss policy changes
- Change management key to PLM project success
- Crystal Group improves worker communication
- TIMELINE: Charney ousting from American Apparel
- Columbia Sportswear fined for mislabelled clothing
- “Made in USA” company rapped for deceptive claims
- VF Corp books "solid" Q2 performance
- Global market review of denim and jeanswear – forecasts to 2020
- Management briefing: Sourcing shifts: Changes and challenges
- Ethiopia – the emerging textile and clothing industry
- American Eagle Outfitters, Inc. : Reacting to a need for change
- Plunkett's Apparel & Textiles Industry Almanac 2014: Apparel & Textiles Industry Market Research, Statistics, Trends & Leading Companies