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AMERICAN APPAREL: UK business in administration

DISAPPOINTING trading volume there prompted American Apparel to withdraw from the UK market where its local subsidiary went into administration. Joint administrator KPMG commented: “The American Apparel group has been experiencing strong retail headwinds, which has culminated in the US parent deciding to stop inventory shipments to the UK. The UK business has experienced similar trading difficulties, resulting in the appointment of administrators. The 13 UK stores are well-stocked and will continue to trade as usual in the lead-up to the peak Christmas trading period. Whilst the UK business is not part of the US sale, a number of the UK stores are in prime high street locations and we will also aim to sell individual stores following the Christmas trading peak.”

American Apparel

American Apparel

The high value of the prime retail locations should soften considerably the financial effects of the decision to withdraw from the UK market.

 

See also :

AMERICAN APPAREL : said to be considering sale

AMERICAN APPAREL : workers protest restructuring

AMERICAN APPAREL : emerges from Chapter 11

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