Things are looking bleaker for bankrupt Aeropostale.
A bankruptcy court judge on late Monday rejected a request from Aeropostale to blame its bankruptcy on Sycamore Partners and block an offer from the private equity firm.
Sycamore Partners confirmed it submitted a bid for the chain after the judge issued the opinion. The amount of the bid is unknown, but it may have been $150 million, which is how much Aeropostale owes two affiliates of Sycamore, Aero Investors and MGF Sourcing Holdings.
Investment firm Versa Capital Management was reportedly considering making a bid for the chain with an eye to keeping its stores open. But the bid was never made and it now seems likely that Aeropostale will likely be liquidated, according to a report by Investorplace.com.