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According to USA Today, the U.S. apparel chain closed all 250 stores, then, filed for Chapter 11 bankruptcy. Much like the American Apparel situation, a sale of the company's name ensures it will live on (even without the stores). An affiliate of private equity firm Sycamore Partners paid $25.75 million for the company's intellectual property.
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Hannah Abrams
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Hannah Abrams is the senior content editor for Promo Marketing. In her free time, she enjoys coming up with excuses to avoid exercise, visiting her hometown in Los Angeles and rallying for Leonardo DiCaprio to win his first second Academy Award.
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