Bloomberg reported 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.
The Bloomberg article notes that the bidding group will also keep the chain’s online business and licensing operation up and running. The purchase price is $243.3 million plus assumption of certain debt, according to a court filing Friday, Sep 2.
View the entire Bloomberg article: Mall Group Wins Aeropostale Auction With $243.3 Million Bid