American Apparel is officially shutting down.
The fashion company has been purchased in a bankruptcy auction by Canadian company Gildan Activewear. The company make t-shirts and clothes but have indicated that they will be shutting down all current 110 American Apparel stores together with the official Los Angeles factory where all the clothing’s made.
Gildan bought the company for $88 million – and this includes all of American Apparel’s intellectual property, manufacturing equipment, and a lot more. Make sure you head on over to your closes AA store or their website as the hipster staple will not be around for much longer!