Thursday, January 5, 2017

Amazon is in talks to buy bankrupt American Apparel

An American Apparel store logo is pictured on a building along the Lincoln Road Mall in Miami Beach, Florida March 17, 2016. REUTERS/Carlo AllegriOnline retailer Amazon.com and teen apparel store chain Forever 21 are among the companies weighing offers to acquire bankrupt American Apparel, people familiar with the talks said on Wednesday.

The bankruptcy auction of Los Angeles-based American Apparel, which made its branding theme "Made in the U.S.A", will determine the future of a major clothing manufacturing plant in California, one of the most expensive U.S. states in terms of labor costs.
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