After a tumultuous 12 years, it seems American Apparel will probably be shutting up shop pretty soon. In a statement to its investors on Monday, the LA-based fashion giant warned that it does not have the resources to stay afloat for the next 12 months.
American Apparel, best known for its basics and simple designs, exploded in the mid-2000s and yet by the end of the decade had already begun to report losses. Although, as Complex pointed out, this is probably due to the fact that not much has really changed when it comes to the clothing designs and not because of founder Dov Charney’s dubious (read: sexist) antics.
When the brand blew up in the mid-2000s the result was an expansion that saw American Apparel chain stores littered across the States, as well as 15 stores in the UK. As interest in American Apparel’s merchandise wanes, so does the probability of keeping all of these stores afloat, potentially threatening the job security of roughly 10,000 employees.
Finally, just to top it all off, the infamous Dov Charney is suing American Apparel for AU$ 54 million. Yet, for all the bad publicity surrounding the brand, it’s still unfortunate to see such a huge fashion icon come to a pretty abrupt end.
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