This has been the apparel saga of the decade as the bumpy ride of American Apparel, a teen retail favorite with more than 230 stories that revolutionized the concept of first-layer fashion and more, finally announced on Sunday, October 4, 2015 that they were filing for Chapter 11 bankruptcy. In their statement, $90 million in […]
American Apparel Finally Files for Bankruptcy After Crazy Ride But Plans Total Restructure
Quiksilver Files for Bankruptcy in the U.S., Brings on Oaktree Capital, Investor for Billabong
We saw this coming a mile away in our Youth Culture Studies when we noticed that Quiksilver started losing rankings in preferences among the youth marketplace starting around 2006. While many teen retailers blame the 2008 recession for the beginning of economic hard times, the real trouble is when your target market thinks you’re completely […]
Can It Get Any Worse for American Apparel? 20 Lawsuits, Impending Debt, Talks of Bankruptcy Loom
American Apparel is in talks for potential bankruptcy just when it seemed like things couldn’t get worse. 17% decline in revenue from $19.4 million in their second quarter to $16.2 million a year ago means they have burned about $23 million in Q2 alone. There are also some 20 lawsuits surrounding the firing of former […]
Wet Seal Files for Chapter 11
The writing was on the wall for the teen retailer when on January 7 of this year, Wet Seal announced the closing of 338 stores and a lay-off of 3,695 employees. On January 16, 2015, Wet Seal announced that it had filed for chapter 11 bankruptcy. Ed Thomas, Wet Seal’s CEO said, “After careful consideration, […]
Metropark Back In Action? Weisfeld Group Buys IP For Undisclosed Amount
The story of Metropark, the retail chain crossing action sports, streetwear, and denim, marks an interesting example of what can happen in a recession.
General Growth Properties, Nation’s Largest Mall Owner, Declares Bankruptcy
It’s the biggest commercial real estate collapse in our history. As more malls grow dark, what happens to retail?