It’s important to look fashionable and fun in the Marshall, MN area, especially with summer just around the corner. While shops in the area are pulling their shorts and sundresses out of storage, one teen-focused retailer will be pulling out a “Closed” sign instead. Aeropostale filed for bankruptcy earlier this week.
Though Aeropostale may have once been a go-to destination for teen shoppers, it’s recently slipped out of the public eye. After a few years of struggling, they finally filed for Chapter 11 bankruptcy protection. Here’s all the you need to know:
In total, this New York-centered retailer will close 113 of their 739 stores across the United States and Canada. This process will begin soon, and may have already begun in certain store locations. Stores slated to be closed in Minnesota are located in Blaine, Coon Rapids, and Woodbury.
The market for teen shoppers has changed in recent years. Rather than looking for logos, polos, or high price clothing, teenagers are looking to stores like H&M and Forever 21 for their quick fashion fixes. These types of stores have pushed Aeropostale out of the current youth market and into bankruptcy.
Though Aeropostale stores near you may be closing, they hope to reopen as a “standalone enterprise” after their Chapter 11 filing is complete. This will mean higher efficiency and a lower number of stores.
Aeropostale recently tried a social media revival, which ultimately fell flat. This failed marketing tactic was a sign that bankruptcy may be the best option for this teen clothing retailer.
Although Aeropostale is filing for bankruptcy protection, that doesn’t mean you’ll be without fashionable clothing in the Marshall, MN area. After their bankruptcy filing is complete, this retailer should be up and running once again.
If you have questions regarding bankruptcy or feel you need to file for bankruptcy protection contact the professionals at Behm Law Group, Ltd. today!