American Apparel to Take Over the BR Monogram Store on Sixth Avenue

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Looks like Banana Republic's higher-priced Monogram collection can't survive the economic downturn, surprise, surprise. American Apparel will move into the Banana Republic Monogram store on Sixth Avenue and Bleecker Street, which will shutter within the next two months. We wonder if Banana Republic's kicking itself for not including latex leggings and leotards in that line. [Racked]