American Apparel Closes Stores In The UK
150 workers are out of a job after American Apparel's most recent store closings. This comes after the company just received approval to liquidate nine retail stores,
150 workers are out of a job after American Apparel’s most recent store closings. This comes after the company just received approval to liquidate nine retail stores, in the U.S. Now, the Los Angeles-based clothing company is closing 12 of its 13 U.K. stores, leaving only one store open, in the Camden section of London.
“Over the last seven weeks, we have carried out our intention to trade all of the stores on a short-term basis in order to sell the stock and realize the value for the creditors,” Jim Tucker of KPMG, one of two administrators for American Apparel’s U.K. business, told The Guardian. “The Camden store will remain open into January.”
In early November, American Apparel’s U.K. business went into administration, right before the company declared bankruptcy in the U.S. Currently, Gildan Activewear holds the leading bid for American Apparel’s wholesale products and intellectual property.
The outcome of American Apparel’s U.S. retail business is still up in the air, however, these recent closings do not point to a bright future.