Fashion Retailer Aropostale Files for Bankruptcy
Teen fashion retailer Aropostale is closing more than 100 stores in the United States as it files for Chapter 11 bankruptcy, the company announced Wednesday. , The struggling chain will shed 113 U.S. locations and 41 locations in Canada. Almost all of the stores being shut down were unprofitable, according to Fortune. The U.S. outlets will have store closing sales over the weekend of May 7-8. , Aropostale has faced increasing competition from foes such as Forever 21, Abercrombie  Fitch and American Eagle. The company's plan now is to focus its efforts "around a smaller footprint of more profitable stores," according to its bankruptcy filing. See the full list of Aropostale stores that are closing here.