Racked is no longer publishing. Thank you to everyone who read our work over the years. The archives will remain available here; for new stories, head over to Vox.com, where our staff is covering consumer culture for The Goods by Vox. You can also see what we’re up to by signing up here.
Despite its latest Halloween lookbook, this ain't no disco for American Apparel. On the heels of the LA-based basics brand's bankruptcy filing and stock delisting, word on the street is that Authentic Brands Group is eyeing the controversial clothiers.
Per the NY Post, a source reveals that the licensing company—the same one that reps Marilyn Monroe and Juicy Couture—is "keenly interested in owning [American Apparel]." As mentioned previously, American Apparel's stockowners (which includes former CEO Dov Charney) will walk away with nothing if creditors take over the company. Ouch.
American Apparel has updated its website, telling shoppers that the Chapter 11 filing is "a positive development for us...this will allow us to remain the largest clothing manufacturer in North America and to bring you even more of the Made in USA clothes you love."
It's also worth noting that AA bought NYC-based Oak not too long ago, and the fate of the edgy-cool label is also unknown. We'll see what happens as the chronicles continue.