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Hehe. MB is on our side now. He's a welcomed addition, lol. Let's hope for the best come Monday. At least some pop and additional news. We need a stable yo!! Multiple horses like the derby. Versa showed it's card, let's see what the others dp
Truthfully, I don't like Versa as the Stalking horse. Would have much rather preferred a currently listed retail company that would buy the whole company. Versa would buy for cheap, same way they did with Wet Seal. They need to release some figures let's know what we are working with.
Looks like someone finally gulped up Sycamores remaining shares. Let's go up baby!!
Anticipating the announcement of a stalking horse later on today. So it gives the others interested a week to figure out what their bid will be
They should have Aly rocking Aeropostale all through the events. Hehe
The relentless selling is scary though. Jeez. I hope we get some good news soon
Let's go baby!!! The close is gonna be amazing
I am hoping they can be bought out by a listed apparel company, and not a private company. Then the company offers a share swap for current commons. That'll be huge
Nice!! We'll get called to join the board soon enough. We'll call our company Ihub AERO warriors. Hehe. Good average.
And that's the one thing I'm banking on. Sycamore realizing how this might negatively affect their business, or past dealings and try to avoid it altogether. Because I am pretty sure Aeropostale was not the first company they did this crap to.
At least until mid August, the only news that can come in is good news. Either they found multiple buyers, very good quarter so far (AEO & ANF are both flying higher) or Sycamore decided to settle it of court. I'll be patient in this one.
Hehe. Someone is hell bent on keeping this down. Oh well. Let's see how it plays out today
Summary of Proceedings today I found online.
Aeropostale’s Sycamore Rift Goes to Trial as Vote Proceeds 2 hours ago
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.
A judge said that teen clothing chain Aeropostale Inc. can ask creditors to vote on its reorganization plan while also gearing up for a trial over whether a key creditor drove the company into bankruptcy to snap it up on the cheap.
U.S. Bankruptcy Judge Sean Lane in Manhattan said Monday that he’s “inclined to approve” the company’s disclosure statement, which explains how the plan would work, so creditors can vote on whether to approve it. After criticizing the plan’s lack of information about how much some creditors, such as mall landlords, stand to recover, the judge said the timeline should be changed so they can find out the results of an Aug. 22 asset auction before voting.
“It’s not perfect,” Lane said. But he called the plan the best the company could do given the deadlines imposed by lenders and Aeropostale’s failure so far to announce a lead bidder for its assets. He asked that the New York-based company file a “supplement” to the plan to let creditors known when they can expect to find out how the auction is going.
The retailer has asked Lane to disqualify New York-based private equity firm Sycamore Partners from using its $150 million debt to bid at the auction. A trial on Aeropostale’s complaint is set for Aug. 15.
The proposed reorganization accounts for the different ways Sycamore’s claims will be treated based on how the litigation plays out. But the plan gives no estimate of what some creditor groups would recover because Aeropostale has yet to find a so-called stalking horse to make the starting bid for its assets. Lane questioned how creditors can vote when there is no “floor” for the sale.
“We’re in active discussions with parties about potential stalking-horse bidders,” Ray Schrock, a lawyer for Aeropostale, told Lane Monday. The company will announce one, or more than one, before the voting deadline, he said.
outset of its bankruptcy in May that Sycamore used a supplier it controls, MGF Sourcing Holdings Ltd., to drive the company into Chapter 11. On July 22, the retailer accused Sycamore of pursuing a “loan to own” strategy and said the firm and its managing partner Stefan Kaluzny traded on inside information about the company.
“These claims are without merit and include numerous allegations that are nothing more than irresponsible fabrications,” Sycamore said in an e-mailed statement over the weekend. Sycamore’s lawyers said in court Monday that the insider trading claims, aside from being “unfactual,” had no connection to creditor issues and criticized Aeropostale for making them in public court documents.
Starting Feb. 3, Sycamore entities began selling their stock in Aeropostale, while just weeks later, MGF demanded onerous new payment terms, the New York-based retailer said in court papers.
“By imposing patently unreasonable payment terms -- indeed, the harshest and most onerous payment terms possible -- Sycamore was attempting to cause the company to suffer an even further decrease in liquidity which would, in turn, cause a default,” Aeropostale said.
The company is ahead of the schedule set out under its bankruptcy operating loan and will be moving forward with its sale as the litigation goes on “in the background,” its lawyers told Lane on Monday. Aeropostale will consider bids for the whole business as well as liquidation offers, according to court papers.
Aeropostale has also asked the court to disallow or lower the priority of Sycamore’s claims. The retailer’s allegations about Sycamore would be resolved before any hearing on confirming the reorganization plan, according to the disclosure statement.
The company listed $390 million in debt and about $354 million in assets in the Chapter 11 petition filed May 4 in Manhattan.
.@Aeropostale: In disclosure statement opposition, term loan lenders say the co. is ignoring the $150 rescue financing they provided in 2014
.@Aeropostale judge said he'd approve the company's disclosure statement. "It's not perfect. I think it's the best of a difficult situation"
.@Aeropostale's judge said he is worried about general unsecured recoveries being listed as "unknown" in the company's plan filed July 15.
.@Aeropostale and various landlords worked out an agreement on a sale timeline the landlords previously objected to as too fast/confusing
Per Bankruptcy Proceedings reporter
Clear case of Equitable Subordination NY Sycamore. They better settle this out of court or SEC will be reviewing all their practices very soon.
Starting to think maybe this whole auctioning off assets thing might be a ruse by Aero to make sure Sycamore does not take over the company. Once the judge rules against Sycamore, Aero will reveal that buyers are lined up to take over the company and keep it intact. Might be wishful thinking, but I feel there is a lot going on in the background.
I really hope whatever claim they file pushes this like crazy come Monday. Cos it seems like these shorts are too confident for my liking. I was expecting fireworks today.
Jeez. Aero!!!! Move up damn it!!!!!!
Looks like they are making an effort to drive the price down. One would think they would let it go higher so as to recoup some money.
354k bid. Looks good
I am really hoping they can make the filling before market close today. I don't like that after market ish.
Crazy stuff going on.
Sweet popcorn now. No more salty popcorn for you buddy!!!
Shorts got greedy. Now they will have to pay tomorrow. News out, going after sycamore. This goes up tomorrow. Let's go!!1
Are they really telling us this is brand is just gonna die a slow death? With this much potential it has? See the opening in India.
Why the heck is Aeropostale keep hiring new employees if they plan on auctioning all their ish by next month? This still got me confused. Really hoping there's a light at the end of this tunnel
Someone kindly paint the day with a .03 buy before 4pm. That'll be much appreciated
With the right market maker in control, this will move up easily. Abc some real catalyst news.
Someone is just playing tango with the ask. Keeps changing but no ones buying. Jeez
Watch them materialize mysteriously
I know this much, no one is selling for a gain right about now. Hoping to see some buyers move in soon
Very very interesting. Only a miracle can save us here.
It's madness. Unbelievable
Let's go baby!!! This is very much alive!! It was all a strategy. Watch for the huge buy coming soon.
Nice. I'm glad I'm not the only crazy person out here. Not selling either. Let's see how this plays out. Too much on the line
Haha. Some might think I'm lying though, but I have 687,750. Yes, I'm down a lot, but oh well. Still have hope. Average is $.0550 .
Life sure is great. Will be sweeter with some good news to help us. I don't know if I'm just crazy, but I still plan on retiring on my earnings from this stock. Wishful thinking, but I don't see this just ending the way it's playing out right now. Something will happen soon that will pull this back up.
That would make a lot of sense. Shares are so cheap right now. BOA can just buy up the shares and finance AERO. Pump it to a buck and make loads of money. The brand is still very popular. Just need the right buyer and management.