Deals

Aéropostale is closing its 19,000-sq.-ft. flagship in Manhattan’s Times Square.

In a move rumored for weeks, Aéropostale on Wednesday filed for Chapter 11 bankruptcy protection.

The struggling teen apparel retailer said it would close 113 stores in the United States and all 41 of its stores in Canada. Store closing sales in the United States will begin this weekend (May 7-8), and in Canada during the week of May 9.

Aeropostale will reportedly file for bankruptcy protection this week and subsequently close more than 100 of its 800 stores, according to The Wall Street Journal.

The struggling teen apparel retailer plans to reorganize under a Chapter 11 filing this week ahead of May rent payments, the report said. On Aeropostale has been struggling for some time. The chain has recorded three consecutive years of losses as its struggles to deal with a teen audience whose spending tastes now favor fast-fashion giants such as H&M as well as online retailers.

GNC Holdings Inc. announced Monday it is undertaking a strategic review whose options could include a sale of the company.

The health-and-wellness retailer said it is also considering accelerated refranchising strategies, partnerships and other collaborations, and capital structure optimization. The announcement comes on the heels of disappointing first quarter results.

Consumers in the Columbus, Ohio, market will soon have a new option for shopping, dining, working, playing and living.

“Hamilton Quarter is a truly mixed-use, cohesive development with more than 300 acres of office, multi-family residential, retail, entertainment, hospitality and senior living offerings,” said Jason Freeman, development manager at Columbus-based fully integrated real estate services firm CASTO.

One of the nation’s largest franchisees will soon also be operating GNC stores.

Moving ahead with its plan to reduce its corporate-owned store footprint, GNC announced plans to sell 84 company-owned locations to Dallas-based Sun Holdings for about $17 million. The retailer revealed the sale amid disappointing first quarter results.

Plans are being finalized for a new 100,000-sq.-ft. retail re-development in Enid, Oklahoma, across from the city’s Oakwood Mall, according to developer GBT Realty Corp.

Sears Holdings will shutter its apparel design office in New York City.

The struggling retailer will shutter the 154-employee office in July, reported the New York Post, which cited a Department of Labor filing.

Sears will move approximately 40 positions to an existing site in San Francisco, with the remainder positions to be cut, according to the report.

Pre-leasing has begun on a $100 million mixed-use complex developed by Forest City Realty Trust that offers retailers an interesting opportunity to serve the bustling Chinatown area of Los Angeles.

The project, named Blossom Plaza, will feature 237 apartments and 19,000-sq.-ft. of commercial space on a two acre tract at the intersection of Broadway and College Street. Leasing the space on behalf of Forest City will be JLL VP Lorena Tomb and associate Danielle Cornwell.

Lowe's Companies Inc. is pricing a $3.3 billion notes offering, with an eye toward supporting a planned purchase of another home improvement retailer.

The retailer has agreed to sell $250 million of floating rate notes due 2019, $350 million of 1.15% notes due 2019, $1.35 billion of 2.5% notes due 2026 and $1.35 billion of 3.7% notes due 2046.