Aéropostale Closing 113 Stores

Aéropostale (New York) has filed Chapter 11 bankruptcy and also announced plans to close 113 of its 739 stores in the U.S., and 41 stores in Canada. Of those stores, 117 were not profitable and were responsible for $17 million in losses last year.

The company will begin liquidating these stores (as well as the remaining ones, which have not been performing strongly) as early as this weekend. The liquidation sales will last six to eight weeks and are expected to garner the company $21 million in revenue.

The company is closing all of its stores in Alaska, Hawaii and Canada, and will also be closing its Time Square store location, reports USA Today.