American Apparel in peril
American Apparel says it could go out of business this year because of poor sales and high debt. The chain’s same-store sales fell 16 percent in the second quarter from a year ago. The chain, which operates 285 stores in 20 countries, has been battered by declining sales, debt problems and other troubles. The retailer employs 10,000 people around the world, 5,000 of them in Los Angeles. Compiled by the staff of Shopping Centers Today. © August 19, 2010 International Council of Shopping Centers.