Sycamore Partners yesterday confirmed that it submitted a bid for Aeropostale Inc. after a judge issued an opinion rejecting the teen-focused retailer's attempt to block an offer and blame its bankruptcy on the private equity firm, Reuters reported yesterday. Aeropostale owes $151 million to two Sycamore affiliates, Aero Investors LLC and MGF Sourcing Holdings Ltd, and had sought to preempt a credit bid by them. A representative for Sycamore said the firm made an offer for Aeropostale at the retailer's auction yesterday but declined to say if the offer was a credit bid. Aeropostale in court papers last month argued for a court order denying Aero, a lender, and MGF, a supplier, an opportunity to credit bid their claims. Aeropostale charged the affiliates had caused liquidity and inventory troubles in an effort to strain the company's finances and drive it into bankruptcy.
