Struggling teen apparel retailer Aeropostale Inc. filed for chapter 11 protection today after succumbing to years of losses as shoppers moved on to fast-fashion retailers and online competitors, Reuters reported. Aeropostale said that it plans to finance its operations during its bankruptcy through a $160 million loan from Crystal Financial LLC combined with operating cash flow, according to a court filing. The company said it expects to emerge out of bankruptcy within six months with a resolution of its disputes with former shareholder Sycamore Partners, which had thrown a lifeline of $150 million to the retailer in 2014. The mall-based retailer said that it would close 113 U.S. stores and all 41 stores in Canada. The company listed assets in the range of $100 million to $500 million, and liabilities of $100 million to $500 million.
