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American Apparel Files For Chapter 11 Bankruptcy

American Apparel has filed for chapter 11 bankruptcy.
American Apparel has filed for chapter 11 bankruptcy. Photo Credit: Wikimedia Commons

PASSAIC COUNTY, N.J. -- Clothing retailer American Apparel filed for Chapter 11 bankruptcy on Monday, according to USA Today.

The company said it has reached agreements with creditors to execute a restructuring plan. American Apparel currently has 8,500 employees at six factories and 230 stores, USA Today reported.

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