By Laura Katauskas | Bugle Staff
Area teens will lose a favorite clothing store at the Promenade Bolingbrook, as Aeropostale announced its bankruptcy filing May 4.
The retailer stated it is going through a business transformation and announced its decision to close 113 U.S. locations and all 41 of its stores in Canada. In Illinois, the list of store closings included the Promenade Bolingbrook location.
“We have been aware of the problems that the Aeropostale Corporation has been having for some time,” said Kris Kuchler, director of marketing for the Promenade. “They have been with us for nine years and we are very sorry to see any of our tenants close.
Kuchler added that the Promenade is always in conversations with retailers interested in becoming one of the shopping center’s more than 65 stores and 12 restaurants.
“The Promenade is in a good position, and we have an opportunity to make a thoughtful decision about tenants that are a good fit and make sense for our center, our guests and the marketplace as a whole,” Kuchler said.
Store closing sales have already begun. Aeropostale stated any potential sale would be expected to be completed within the next six months.
“While initiatives such as the implementation of our two-chain factory and mall strategy and our merchandise repositioning have started to gain traction, the ripple effects of an ongoing dispute with our second-largest supplier put substantial strain on our liquidity while also preventing us from realizing the full benefits of our turnaround plans,” Aeropostale Chief Executive Officer Julian Geiger said in a statement. “As a result, we have chosen to take more decisive and aggressive action to create a leaner, more efficient business that is well-positioned to compete and succeed in today’s retail environment. We appreciate the loyalty and support of our customers, employees and business partners as we complete this process.”
Aeropostale will continue to operate its nearby Joliet location. In Illinois, seven locations from Carbondale, Bourbonnais, Springfield, Forsyth, Bolingbrook, Tuscola and Geneva, are scheduled to close.