Aeropostale Gets Going Concern Bid to Keep 229 Stores Open

Aeropostale Inc., the bankrupt teen clothing chain, says a joint venture including General Growth Properties Inc. and Simon Property Group Inc. has bid for “substantially all” its assets with an eye toward keeping at least 229 stores open (In re Aeropostale Inc.).

The so-called going concern bid would also cover expenses including Aeropostale’s bankruptcy financing, the company said in a filing late Aug. 30 in Manhattan federal court. The amount of the bid wasn’t disclosed. The auction, which has been going all week, will continue Aug. 31, according to the filing.

New York-based Aeropostale filed for Chapter 11 ...