Aeropostale closing over 100 stores, may file for bankruptcy

Teen clothing store Aeropostale is filing for Chapter 11 bankruptcy.

The Wall Street Journal reported Tuesday that the retailer is set to file in a few days before it has to make May rent payments, citing sources close to the discussions.

Failing sales and losses may be to blame as consumers move toward online retail. Over 100 of the company's 800 stores are set to close.

CNBC reported that the company announced in April that it would stop trading its stock on the New York Stock Exchange because it had an "abnormally low" trading price.

If Aeropostale does file for bankruptcy, it will be another company in a list of mall-based retailers to do so, including Wet Seal and Pac Sun.

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