TCR_Public/171125.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Saturday, November 25, 2017, Vol. 21, No. 328

                            Headlines

ARO LIQUIDATION: Net Loss in June Swings to $14,000
ARO LIQUIDATION: Posts $759,000 Net Loss at July 29
IRONCLAD PERFORMANCE: Reports $534,993 Net Loss in September

                            *********

ARO LIQUIDATION: Net Loss in June Swings to $14,000
---------------------------------------------------
ARO Liquidation, Inc., formerly known as Aeropostale, Inc., et.
al., filed with the U.S. Securities and Exchange Commission their
monthly operating report for the period from June 2, 2017 through
July 1, 2017.

The Debtors suffered a net loss of $14,000 on $nil sales in June,
as compared to $2.74 million net income posted for the previous
period.

As of July 1, 2017, the Debtors posted consolidated total assets of
$373.31 million, consolidated total liabilities of $206.39 million,
and consolidated total shareholders' equity of $166.92 million.

The Debtors listed $6.08 million in total disbursements for the
period.

A copy of the monthly operating report is available at the SEC at:

                     https://is.gd/Bx4las  

                  About ARO Liquidation, Inc.

Aeropostale, Inc. (OTC Pink: AROPQ) is a specialty retailer of
casual apparel and accessories, principally serving young women and
men through its Aeropostale(R) and Aeropostale Factory(TM) stores
and website and 4 to 12 year-olds through its P.S. From Aeropostale
stores and website.  The Company provides customers with a focused
selection of high quality fashion and fashion basic merchandise at
compelling values in an exciting and customer friendly store
environment.  Aeropostale maintains control over its proprietary
brands by designing, sourcing, marketing and selling all of its own
merchandise.  As of May 1, 2016, the Company operated 739
Aeropostale(R) stores in 50 states and Puerto Rico, 41 Aeropostale
stores in Canada and 25 P.S. from Aeropostale(R) stores in 12
states.  In addition, pursuant to various licensing agreements, the
Company's licensees currently operate 322 Aeropostale(R) and P.S.
from Aeropostale(R) locations in the Middle East, Asia, Europe, and
Latin America.  Since November 2012, Aeropostale, Inc., has
operated GoJane.com, an online women's fashion footwear and apparel
retailer.

Aeropostale, Inc., and 10 of its affiliates each filed a voluntary
petition under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y.
Lead Case No. 16-11275) on May 4, 2016.  The petitions were signed
by Marc G. Schubac, senior vice president, general counsel and
secretary.

The Debtors disclosed assets of $354.38 million and total debt of
$390.02 million as of Jan. 30, 2016.

The Debtors hired Weil, Gotshal & Manges LLP as counsel; FTI
Consulting, Inc., as restructuring advisor; Stifel, Nicolaus &
Company, Inc., and Miller Buckfire & Company LLC as investment
bankers; RCS Real Estate Advisors as real estate advisors; Prime
Clerk LLC as claims and noticing agent; Stikeman Elliot LLP as
Canadian counsel; and Togut, Segal & Segal LLP as conflicts
counsel.

Judge Sean H. Lane is assigned to the cases.

The U.S. trustee for Region 2 on May 11, 2016, appointed seven
creditors of Aeropostale Inc. to serve on the official committee of
unsecured creditors.  The Committee retained Pachulski Stang Ziehl
& Jones LLP as counsel.

On June 29, 2017, Judge Lane authorized changes to the Debtors'
corporate names in relation to their bankruptcy cases.  The new
name for Aeropostale Inc. is now ARO Liquidation, Inc., Case No.
16-11275.


ARO LIQUIDATION: Posts $759,000 Net Loss at July 29
---------------------------------------------------
ARO Liquidation, Inc., formerly known as Aeropostale, Inc., et.
al., filed with the U.S. Securities and Exchange Commission their
monthly operating report for the period from July 2, 2017 through
July 29, 2017.

The Debtors reported a net loss of $759,000 on $nil sales in July,
an increase from $14,000 net loss listed for the previous reporting
period.

As of July 29, 2017, the Debtors posted consolidated total assets
of $258.98 million, consolidated total liabilities of $217.64
million, and consolidated total shareholders'
equity of $41.33 million.

The Debtors had $931,000 in total disbursements for the period.

A copy of the monthly operating report is available at the SEC at:

                     https://is.gd/1vPGP9  

                  About ARO Liquidation, Inc.

Aeropostale, Inc. (OTC Pink: AROPQ) is a specialty retailer of
casual apparel and accessories, principally serving young women and
men through its Aeropostale(R) and Aeropostale Factory(TM) stores
and website and 4 to 12 year-olds through its P.S. From Aeropostale
stores and website.  The Company provides customers with a focused
selection of high quality fashion and fashion basic merchandise at
compelling values in an exciting and customer friendly store
environment.  Aeropostale maintains control over its proprietary
brands by designing, sourcing, marketing and selling all of its own
merchandise.  As of May 1, 2016, the Company operated 739
Aeropostale(R) stores in 50 states and Puerto Rico, 41 Aeropostale
stores in Canada and 25 P.S. from Aeropostale(R) stores in 12
states.  In addition, pursuant to various licensing agreements, the
Company's licensees currently operate 322 Aeropostale(R) and P.S.
from Aeropostale(R) locations in the Middle East, Asia, Europe, and
Latin America.  Since November 2012, Aeropostale, Inc., has
operated GoJane.com, an online women's fashion footwear and apparel
retailer.

Aeropostale, Inc., and 10 of its affiliates each filed a voluntary
petition under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y.
Lead Case No. 16-11275) on May 4, 2016.  The petitions were signed
by Marc G. Schubac, senior vice president, general counsel and
secretary.

The Debtors disclosed assets of $354.38 million and total debt of
$390.02 million as of Jan. 30, 2016.

The Debtors hired Weil, Gotshal & Manges LLP as counsel; FTI
Consulting, Inc., as restructuring advisor; Stifel, Nicolaus &
Company, Inc., and Miller Buckfire & Company LLC as investment
bankers; RCS Real Estate Advisors as real estate advisors; Prime
Clerk LLC as claims and noticing agent; Stikeman Elliot LLP as
Canadian counsel; and Togut, Segal & Segal LLP as conflicts
counsel.

Judge Sean H. Lane is assigned to the cases.

The U.S. trustee for Region 2 on May 11, 2016, appointed seven
creditors of Aeropostale Inc. to serve on the official committee of
unsecured creditors.  The Committee retained Pachulski Stang Ziehl
& Jones LLP as counsel.

On June 29, 2017, Judge Lane authorized changes to the Debtors'
corporate names in relation to their bankruptcy cases.  The new
name for Aeropostale Inc. is now ARO Liquidation, Inc., Case No.
16-11275.


IRONCLAD PERFORMANCE: Reports $534,993 Net Loss in September
------------------------------------------------------------
Ironclad Performance Wear Corporation filed with the U.S.
Securities and Exchange Commission a monthly operating report for
September 2017.

The Debtor suffered a net loss of $534,993 on $1,216,079 of revenue
for the month.

The Debtor posted $13.62 million in total assets, $9.24 million in
total liabilities, and $4.38 million in total shareholders' equity
as of September 30, 2017.

At the beginning of the month, the Debtor had a $102,516 beginning
cash balance.  It listed total receipts of $831,523 and total
disbursements of $120,689.  Thus, the Debtors ended the month  with
$813,350 cash.

A copy of the monthly operating report is available at:

                  https://is.gd/8REOQB

             About Ironclad Performance Wear

Ironclad Performance Wear Corporation designs and manufactures
branded performance work wear for a variety of construction,
do-it-yourself, industrial, sporting goods and general services
markets.  Since inception, the company has leveraged its
proprietary technologies to design task-specific technical gloves
and performance apparel designed to improve the wearer's ability to
perform specific job functions.

Ironclad's gloves are available through industrial suppliers,
hardware stores, home centers, lumber yards, and sporting goods
retailers nationwide; and through authorized distributors in North
America, Europe, Australia, Middle East, Asia and South America.

Ironclad Performance Wear Corp, a California corporation and
Ironclad Performance Wear Corp, a Nevada corporation sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D.
Cal. Case Nos. 17-12408 and 17-12409) on Sept. 8, 2017.  Geoffrey
L. Greulich, CEO, signed the petitions.  The cases are jointly
administered and are assigned to Judge Martin R. Barash.

Ironclad California estimated assets of $10 million to $50 million
and liabilities of $1 million to $10 million.  In its schedules,
Ironclad Nevada disclosed $16.6 million in assets and $8.05 million
in debt.

Levene, Neale, Bender, Yoo & Brill L.L.P serves as counsel to the
Debtor.  Stubbs Alderton & Markiles, LLP acts as the Debtor's
special corporate and securities, special trademark, and special
litigation, counsel.  Craig-Hallum Capital Group LLC and Michael D.
Schwarzmann are the Debtor's financial advisors.

On Sept. 22, 2017, the U.S. Trustee appointed an official committee
of unsecured creditors in the Debtors' cases.  The Creditors
Committee retained Brown Rudnick LLP as its legal counsel; and
Province Inc. as financial advisor.

An official committee of equity security holders also has been
established in the case.  The equity panel retained Dentons US LLP
as counsel.


                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

TCR subscribers have free access to our on-line news archive.
Point your Web browser to http://TCRresources.bankrupt.com/and use
the e-mail address to which your TCR is delivered to login.

                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.  
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman,
Editors.

Copyright 2017.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000 or Nina Novak at 202-362-8552.

                   *** End of Transmission ***