American Apparel is officially going out of business for good. Ultimately known for their Made In America vintage aesthetic style , the bags with a bunch of cities on it and their most famous colorful basics. Originally founded in Montreal, Quebec ,Canada by Founder Dov Charney in 1989 and then relocating to Los Angeles in 1997 , American Apparel will be closing all of it’s 11o retail stores as well as its LA headquarters by the end of April 2017. [ Hollywood Reporter] . This will also effect 3,400 employees that will be loosing their jobs.
AA filed for bankruptcy back in 2015 due to not making any profits every since 2009 . The company came up with a financial plan which didnt go for long until they filed for bankruptcy for the second time back in November of 2016. Canadian brand Gildan Activewear won the bankruptcy action and brought all of American Apparel’s intellectual property as well as other assets for $88 million dollars.
(photo via Google)
There’s no word of what the Gildan Brand plans to do with AA, but until then you might want to start racking up . Are you going to miss American Apparel when it’s gone ? Comment below .
Written by @dasiatheceo