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It's On: American Apparel Deathwatch

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American Apparel seems to sink deeper and deeper into a broke-ass hole with every passing day. Bad bad things: they could be closing a third of their stores in NY, stocks are down to 81 cents a share, and the company is claiming it might not have enough liquidity to sustain itself another year (which sounds optimistic; to our layman's ears, it sounds like they're gonna be done in three months). Is the end inevitable? Will you miss them? We would be endlessly thankful if we never had to look at a 15-foot tall crotch shot on the corner of Sunset and Alvarado, but AmAp does keep a lot of Angelenos employed. And much the way Steven Colbert and John Stewart needed W and Dick Cheney, our business is richer for having Dov Charney, American Apparel, and all of those sex scandals in it. [Racked NY, Associated Press]