April - Struggling teen apparel retailer Aeropostale Inc is preparing to file for bankruptcy as soon as this month, Bloomberg reported, citing people familiar with the matter.
Shares of Aeropostale were halted, pending news, after falling 27.7 percent to a record low of 15.1 cents in afternoon trading.
The retailer is trying to work out a loan to finance its operations during the bankruptcy process, and a deal to avert a filing or find a buyer could still emerge, Bloomberg said.