American Apparel is back in bankruptcy court, and this time its chain of brick-and-mortar stores may not survive.
The company filed for bankruptcy on Monday for the second time in just over a year. It also announced a deal to sell its brand, as well as its inventory of clothing, to Canadian apparel company Gildan Activewear.
But Gildan, which is paying $66 million for the American Apparel name, is not buying any of its stores. American Apparel's website says it has just over 100 stores in the United States and locations in 18 other countries.. . . more