Wednesday, August 18, 2010

Get ready, New York will soon have more commercial space for rent - American Apparel is going down, finally.

Founder Dov Charney's support for an illegal immigrant amnesty was followed by a raid on his LA factory
With $91 million in debt, it's unlikely that the favorite underwear supplier to the City's hipsters will recover.

As founder and CEO of American Apparel, Dov Charney says  "Hipsters are from a certain time period. The stereotype of a hipster is not something people aspire to anymore. Do you want to be a hipster? Nobody wants to be a hipster." 

Too bad Charney couldn't figure that one out $91 million ago.

Now if we can only get rid of Starbucks.

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