American Apparel Might Have to Close a Third of Its NYC Stores


The company won't comment on potential closures, but analysts predict that now that AA has admitted it doesn't think it has enough cash to get through the year, a third of the twenty stores in Manhattan and Brooklyn may have to close. The company's stock, now beaten to a pulp over the course of AA's financial devolution, is trading at 84 cents, which is not even enough to buy a soda in our office's soda machine. On the upside, the store vacancies may make way for new delis. [Crain's]