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

Photo: Maura Murnanae

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]