Remember making a quick run to American Apparel to grab a quick tee, leggings, scarf, etc. was just the most convenient thing ever? Well, it hasn’t been for awhile as the company’s prices seem to escalate every year which meant less money was being spent in the what use to be the hottest retail store around.
Today, it has been announced that AA is officially locking their doors as the brand has been sold for just over $100 million dollars. The once popular company was purchased by Canadian brand Gildan Activewear and American Apparel is closing its L.A. headquarters and all 110 U.S. stores. With the business, shutting down means jobs will be lost. There will be a loss of 3,400 factory positions.
Founded in 1989 AA was always in the middle of a controversy because of its unapologetic racy ad campaigns with about 230 stores nationwide.
With two bankruptcies overall, Dov Charney‘s (Founder of American Apparel) sexual harassment allegations and more, it is safe to say that fashion brand will longer have to suffer and can now rest. All stores will be closed by April 2017.
American Apparel Is Officially Closing Its Doors, Sold For Just Over $100 Million was originally published on stuffflypeoplelike.com
