American Apparel, the LA based clothes manufacturer known for its multi-colored basics and racy ad campaigns, has been providing hipsters world wide with retro classics, ironic leggings, and lacy undies for the past 20 years. However, hipsters might soon need to search farther for patterned fishnets. The company has recently had some financial trouble and is said to be heading towards bankruptcy. The manufacturer’s stock plummeted last month after a series of dubious business decisions by outspoken CEO Dov Charney (a hipster in his own right). Hipster, fear not! Charney says that he can turn the company around. Until then, better stock up on all of your leotards and classic V-necks while American Apparel is still around.
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