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Bloomberg: Aeropostale Cleared to Seek Bankruptcy Rescue From Versa Capital

August 09, 2016, 07:24 AM
Filed Under: Bankruptcy

Bloomberg reports that Aeropostale Inc. settled a dispute with lenders that threatened to scuttle a potential bid from a Versa Capital Management unit to buy the teen-clothing chain out of bankruptcy.

Versa Capital Fund III is working with Aeropostale to make a binding opening offer for its assets at an auction, according to the Bloomberg article. The retailer won court approval Monday, Aug. 8 to pay expenses the Versa affiliate has incurred preparing the so-called staking horse bid, clearing the way for the companies to possibly reach a deal on the offer by Aug. 11.

Read the entire Bloomberg article: Aeropostale Cleared to Seek Bankruptcy Rescue From Versa Capital.

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