After a period of tumultuous financial troubles and shuttering many locations, Aéropostale is reclaiming its retail territory.
With the help of Authentic Brands Group and other investors, the teen retailer re-opened more than 500 stores and is presenting a new market presence, Consumerist reported.
“We are excited to refresh this iconic brand and introduce our customers to a rejuvenated destination that offers great product and a fun shopping experience,” ABG president and chief marketing officer Nick Woodhouse said in a statement.
Along with the store re-openings, Aéropostale will install a social-media focused ad campaign that targets the retailer’s key demographic— Gen Z shoppers.
Aéropostale’s comeback is due to the ongoing efforts of Aero Opoco LLC, a group of four investors that rescued the retailer from bankruptcy last fall. In September, the retailer won court approval to sell its assets and intellectual property to the joint venture that included Authentic Brands Group, General Growth Properties, Gordon Brothers Retail Partners, Hilco Merchant Resources and Simon Property Group.
The $243.3 million sale resulted in a plan to keep more than 229 stores operational despite the retailer’s ongoing financial dilemma. In November, Simon Property Group (SPG) announced its plan to expand Aéropostale’s store base to 500 locations this year.
Aéropostale originally filed for Chapter 11 petitions in the U.S. Bankruptcy Court for the Southern District of New York on May 4, 2016. The bankruptcy filing was a result of an ongoing dispute with MGF Sourcing owner Sycamore Partners and declining financial stability. The retailer secured a $160 million debtor-in-possession loan to help optimize its store footprint, renegotiate “burdensome” contracts and improve its financial outlook for future prosperity.