Shoppers passing by Aeropostale
Roberto Machado Noa | LightRocket | Getty Images
Shares of Aeropostale fell more than 27 percent Thursday after Bloomberg reported the company is preparing to declare bankruptcy as soon as this month.
The company declined to comment.
The news comes about a month after Aeropostale said it was exploring strategic alternatives, including a sale, as it struggles to cope with rapidly changing consumer tastes and stiff competition.
— Reuters contributed to this report.