A consortium comprising companies and liquidators will keep US teen retailer Aeropostale going and potentially save 229 of its stores. Aeropostale will continue as a business, though with much fewer than the 800 stores it had before it filed for bankruptcy in May amid fierce competition from online retailers, fast fashion trends and the fast-changing tastes of its young clientele. It had been losing money for 13 successive quarters.

The consortium intends to operate at least 229 of Aeropostale’s US stores, in addition to Aeropostale’s e-commerce business and its international licensing business. This way , Aeropostale has avoided bankruptcy liquidation. It hopes to continue to serve customers, emerge with new ownership as a financially stronger company positioned to compete and succeed in an evolving retail landscape apart from preserving thousands of jobs.

New York-based brand is popularly called Aero. It markets accessories and skirts, polos, jeans, hoodies and T-shirts mostly for teenagers. For decades Aeropostale has influenced American teenagers' style and fashion sense. At least five US teen retailers like Pacific Sunwear have filed for bankruptcy in the past two years, as the spending habits of young people shift and they visit malls less often.