Bankrupt Brand A É Propostale Received Financing Of 160 Million Dollars To Renew Its Life

Reported: American teen brands that have applied for bankruptcy Aéropostale The company not only obtained a financing application of $160 million, but also settled with Sycamore Partners, a major shareholder who has been constantly arguing over the brand.

For the approval of the financing application, Julian R. Geiger, CEO of A é rostale Inc., reiterated that he would restore the brand with a more efficient and streamlined business plan.

The preferred creditor of A é proposal Inc. will become Crystal, which will provide financing for the company of $160 million Financial， This move also met with A é rostale Other creditors of Inc. objected. Many creditors said that the plan would eventually fail because there were many precedents of other companies. These creditors who have been forced to become subordinated creditors hope that A é rostale Inc Bankruptcy liquidation can be carried out to realize assets to repay debts, but in the end, "the value of reorganization is twice the value of sale" of A é proposal Inc. persuaded the Federal Bankruptcy Court in New York.

In addition to obtaining financing, A é rostale Inc., which announced bankruptcy on May 4, and its former major shareholder, Sycamore Partners Management LLC Reach a settlement agreement. In fact, the new financing is also, to some extent Settlement agreement The main cause of the agreement is that Sycamore is difficult to win the A é proposal that has been watched for a long time when it cannot become the main creditor Inc.。

According to the settlement agreement between the two parties, A é rostale Inc. will be restructured or sold before August 26, 2016 at the latest, one month ahead of the previous date.

According to A é rostale According to the bankruptcy documents of Inc, the company will close 113 American stores and 41 Canadian stores, higher than the "100" previously reported by sources. The company currently has assets and liabilities of $100 million to $500 million.

　　Aéropostale Inc. specializes in Youth clothing market However, the American "3A" clothing group, which focuses on the youth market, has been tottering in the past three years. Unfortunately, A é rostale Inc. became the first to fall.