American Apparel is reportedly closing down
No more spandex leotards for us then.
Clothing store American Apparel is set to close it's doors in the next few months according to reports.
A Canadian wholesale company called Gildan Activewear bought the company at auction for $88 million. They acquired the brand's intellectual property and some of its manufacturing equipment.
Gildan has now decided not to take over the American brands' stores or U.S. factories and will instead close all stores across the US. There are currently 110 stores and they are all set to close by April 2017.
This will also affect the manufacturers of the clothing namely the largest sewing factory in North America. This factory employs 3,500 workers in Southern California, which means that they will lose their jobs along with thousands of other people.
Many of the company's European stores close in the last few months including across the UK and in Ireland.