Practices
Pachulski Stang Ziehl & Jones Wins TMA Turnaround Transaction of the Year Award for Work on Aeropostale
The firm is pleased to announce that the Turnaround Management Association (TMA) has awarded Pachulski Stang Ziehl & Jones with the 2017 “Turnaround of the Year: Mega Company” award for its work on the chapter 11 bankruptcy restructuring of teen clothing retailer Aeropostale, Inc. The company avoided liquidation after being sold as a going concern to a consortium of landlords, liquidators, and an intellectual property firm. Aeropostale operated more than 800 stores in the U.S. and Canada, and through various licensing agreements in Latin America, Asia, Europe and the Middle East. The company catered to teens and children, and also operated the online women's shoe and clothing retailer GoJane.com. Mounting pressure on retailers along with a contentious feud between the retailer and its lender pushed Aeropostale to file for bankruptcy.
