http://wolfstreet.com/2016/04/21/retailer-bankruptcies-chapter-11-aeropostale-vestis/
Another retailer is heading for bankruptcy. This time Aeropostale,
with 800 teen-clothing stores, after three years in a row of
losses. It’s “preparing to reorganize under a Chapter 11 bankruptcy, and
could file as soon as this month, according to people familiar with the
matter,” Bloomberg reported today.
Upon Bloomberg’s propitious report, Aeropostale shares plunged 28% to
15 cents. It has been a penny stock since last September. The New York
Stock Exchange, which had threatened the company with delisting, removed
the stock before 2 p.m. today, and trading of the shares has been
suspended.
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