American Apparel files for second bankruptcy protection

American Apparel files for second bankruptcy protection

US retailer American Apparel (AA) has filed for its second bankruptcy protection in just over a year.
The youth-focused clothes firm, hit by years of losses, will continue trading while it negotiates a potential sale of assets to Canada's Gildan Activewear.
Gildan said it had offered $66m (£53m) for the rights to the AA brand and stock, but did not want the stores.
AA, known for racy advertising and legal battles with founder Dov Charney, emerged from bankruptcy in February.
The company said last week that it was winding down its operations in the UK.
AA has been looking for a buyer and has... read more

14 November 2016 in Business, Views: 35
Source: BBC

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