SECTOR: Consumer Discretionary - Retail
CONFIRMED DATE: May 2016
ROLE: Financial Advisor to the Official Committee of Unsecured Creditors
Aéropostale is a specialty retailer of casual apparel and accessories through retail stores, e-commerce, and international licensing channels. Originally a department store private label brand for Macy's, Aéropostale opened its first independent store in West Los Angeles in 1987 and eventually grew to over 1,100 locations before encountering financial distress and eventually filing for bankruptcy in May 2016. Province was hired by the Official Committee of Unsecured Creditors to assist in maximizing the value of the estate. Province's primary responsibilities include dissecting and stress testing the debtors' restructuring initiatives and business plan, monitoring the marketing process for finding potential §363 buyers and plan sponsors, and building a weekly and monthly cash flow model using four wall analysis as the primary driver to determine liquidity, valuation, and optimal capital structure.