Aeropostale, one-time mall king, seeks bankruptcy protection - WPSD Local 6: Your news, weather, and sports authority

Aeropostale, one-time mall king, seeks bankruptcy protection

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In this Wednesday, Dec. 2, 2015, file photo, women pass an Aeropostale clothing store in New York's Times Square. (AP Photo) In this Wednesday, Dec. 2, 2015, file photo, women pass an Aeropostale clothing store in New York's Times Square. (AP Photo)
NEW YORK (AP) -

Aeropostale, once the vibrant epicenter of the U.S. mall scene, is seeking Chapter 11 bankruptcy protection and closing 20 percent of its stores in North America. 

The Aeropostale in Kentucky Oaks Mall in Paducah is among those closing. 
    
The New York company said today that it is closing 113 of its 739 U.S. stores and all 41 locations in Canada. Going-out-of-business sales at those U.S. stores will begin this weekend.
    
Aeropostale expects to emerge from bankruptcy protection within six months as a smaller company after renegotiating contracts and resolving an ongoing dispute with the investment firm Sycamore Partners, a major shareholder that pushed through changes in company leadership.
    
In the filing, CEO Julian Geiger lashed out at Sycamore, which he accused of hampering the company's turnaround plans.

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