American Apparel begins liquidation of European stores
The curtain is closing on American Apparel's European stores. The company has announced the total liquidation of stock from eleven stores still open in continental Europe (excluding the Milan store, which is managed by another entity). The seven French stores (five in Paris, one in Lyon and one in Toulouse) and four stores outside France in Belgium (Antwerp), the Netherlands (Amsterdam) and Germany (two locations in Berlin) started off Friday morning by offering a -30% discount on all products. The final liquidation is scheduled for 28 May.
The still sizable following of the brand should be able to pick up some good buys since these European locations were able to recover stock from other already closed shops and corners, especially from Germany, but also from the company's US headquarters. Gildan Activewear bought the embattled retailer in February after a tumultuous two years that included a bankruptcy filing, a major management shake up and mounting debt.
“The shops on Rue du Temple in the 3rd arrondissement of Paris and Aix-en-Provence, as well as the corner of the Galeries Lafayette Haussmann and the BHV have already closed,” explained Romain Blanc, managing director of the retailer in France. “The fate of these other eleven stores and their employees is still uncertain. The legal administrator is trying first and foremost to preserve jobs by finding a company or brand to buy the business assets and keep the employees. But for now, it is still too early to know what the outcome will be,” he said.
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