Aeropostale Inc. shareholder Aria Partners GP says claims against lender Sycamore Partners could be the best shot backers of the retailer have to make good their losses, the Wall Street Journal reported today. Sycamore and Aeropostale have been trading accusations over who is to blame for Aeropostale’s bankruptcy, a dispute that has dominated the chapter 11 case that began May 4. Swamped with hundreds of millions of dollars in debt, Aeropostale has said that it would trim down and survive chapter 11 bankruptcy, despite the market forces arrayed against it. Mall traffic is down, competition from faster fast-fashion rivals like H&M is up, and Aeropostale is struggling to pay store lease costs that run about $200 million annually. If a turnaround is out of the question, Aeropostale hopes to find a buyer for the apparel chain that, as of the end of January, numbered 811 stores. More than 150 of those outlets are slated for closure and more may follow.
