Headlines

Aeropostale Urged to Find a Buyer

Stakeholding investment firm feels struggling retailer’s brand has market value

Published

11 years ago

November 25, 2013

steve kaufman

Crescendo Partners LP (New York), a large stakeholder of Aeropostale Inc. (New York), has publicly urged the company to offer itself up for sale.

The struggling retailer of teen apparel has already said it will report a loss when it announces its third quarter results in early December. It has blamed the heavy discounting it and most other clothing retailers have had to do as they headed into the holiday shopping season.

“We urge the company to set up a special committee of independent directors and hire investment bankers to run a broad sale process,” Crescendo said in a statement. The investment firm, which owns an inderminant number of shares, said Aeropostale has a strong brand name and a compelling valuation that makes it attractive for a buyout.

Aeropostale has been trying to upgrade its fashion offerings beyond hoodies, jeans and T-shirts, but has done little to turn around its fortunes.

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