Aeropostale Interested in a Possible Sale?

AeropostaleNew York—Aeropostale has reportedly contacted at least two private equity firms about a possible sale.

According to Bloomberg News, the retail group has also contacted investment banks to gain assistance in dealing with pressure from activist investor Crescendo Partners or running a sale process.

The teen-oriented retailer has been struggling to turn its business around in the last few quarters. Last month, Aeropostale swung to a third-quarter loss of $25.6 million and a 15% decline in comparable store sales.

A month earlier, Crescendo Partners sent the company’s board a letter urging it to immediately start a sale process. In response, Aeropostale adopted a so-called “poison pill” stockholder rights plan aimed at warding off unwanted takeover attempts.

The retailer, however, is not in talks to sell itself yet, sources told Bloomberg.

A spokesperson from Aeropostale said it’s the company’s policy not to comment on “market rumor or speculation.”

 

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