Jan 14 Apparel retailer Aeropostale Inc,
under pressure from investors to sell itself, reached out to at
least two private equity firms as it explores strategic options,
Bloomberg said on Tuesday, citing sources.
The company also contacted investment banks to gain
assistance in dealing with pressure from activist investor
Crescendo Partners or running a sale process, the report quoted
two persons who did not want to be identified.
The youth-apparel retailer, however, is not in talks to sell
itself yet, the sources told Bloomberg.
Crescendo Partners urged Aeropostale in November to sell
itself, joining a list of investors expressing frustration about
the fading fortunes of the company.
The company, which reported losses for four straight
quarters, has been trying to offer more fashionable products,
but the efforts have done little to turn around its fortunes.
Aeropostale's spokesman was not available for comment
outside regular U.S. business hours.
The New York-based company's shares closed at $7.73 on
Tuesday on the New York Stock Exchange.