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Aéropostale Declares Bankruptcy

After acquiring an impressive debt of $390 million, Aéropostale closes up shop.

Teen retailer Aéropostale has declared bankruptcy after losing money for 13 consecutive quarters.

The brand, made famous in malls across the US in the early 2000s, has announced that it will be closing 113 stores in the United States and all 41 of its stores in Canada as it seeks to achieve financial stability.

In its Chapter 11 filing, the retailer listed $354 million in assets, while its debts totaled over $390 million. The chain has secured $160 million in financing from Crystal Financial LLC, but total resurgence does not seem likely.

Aéropostale has been facing difficulties for some time now, but it was a 16% sales plummet in the most recent quarter that forced the brand to reevaluate its financial situation. With the rise of fast-fashion brands like H&M, Zara and Forever 21, which cater to the same young market as Aéropostale but with a tighter focus on current trends, the retailer has quickly fallen to the wayside.

Though many have clearly moved on from Aéropostale, the brand holds a special place in the hearts of early mall-hoppers who fondly remember its particular take on pastel-colored teen fashion.

From its simple iconic t-shirt:

To its classic polo:

Aéropostale's clothing, for better or worse, made an indelible mark on young American teen culture.

So long old friend!

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