(Wyoming) Today teen clothing retailer Aéropostale officially filed for bankruptcy protection. They just announced they would close 154 stores worldwide, 113 here in the U.S. The full list
includes their only location in Wyoming, at the Eastridge Mall in Casper.
It also includes their only location in South Dakota, Rapid City's Rushmore
Mall. According to Fortune Magazine
, these locations either
lost money last year or generated little to no profit for the company.
Store closing sales are scheduled to begin this weekend. Aéropostale still
has over 600 stores open worldwide, and CEO Julian R. Geiger says online
sales will also continue as usual. The closest stores open to Wyoming
residents will now be in Colorado.
"We also expect to honor all gift cards in full, offer new store
promotions, continue employee wages and benefits without interruption,
uphold the terms of our international licensee agreements and pay suppliers
in the normal course of business for all goods and services delivered on or
after May 4, 2016," Geiger said in a statement.
The company cites competition from H&M and Forever 21 as part of the reason
for their underperforming business. Sales dropped 18% in 2015.
*Feature photo: One of the 41 stores in Canada closing this month. h/t
Wikimedia // Pitchengine Communities*
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