A consortium led by Simon Property Group Inc. and General Growth Properties Inc. won an auction for the assets of Aeropostale Inc., with a plan to keep open at least 229 of the bankrupt teen retailer’s stores (In re Aeropostale Inc.notice).
The bidding group will also keep the chain’s online business and licensing operation up and running, according to a statement late Sept. 1. The purchase price is $243.3 million plus assumption of certain debt, according to a court filing Sept. 2.
A Manhattan bankruptcy judge must still approve the deal after reviewing the terms and any objections. ...
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