Bankruptcy

American Apparel Is Done — All 110 Stores Are Closing After Company Is Sold In Bankruptcy Auction

It’s the end of a fashion era… kind of. American Apparel is shutting down — or, more accurately, it’s going to look very different — after being purchased at a bankruptcy auction by Canadian company Gildan Activewear. Related: Take A Look At This Week’s Best-Dressed Celebs! Gildan, which makes t-shirts and other clothes themselves, has(…)

Aeropostale, Your Favorite High School Brand, Files for Bankruptcy Protection

It’s official: We’re all getting old! Aéropostale, the beloved clothing brand that most '90s babies revered in high school, filed for Chapter 11 bankruptcy protection on Wednesday, May 4. While the company expects to resurface after a six-month period, it'll have to borrow $ 160 million from lenders Crystal Financial LLC, according to a court(…)

Judge Orders 50 Cent To Explain How He Has So Much Cash On Instagram While Going Through Bankruptcy!

This is embarrassing. On Thursday, U.S. Bankruptcy Judge Ann M. Nevins ordered rapper 50 Cent to appear in court after seeing pictures of thousands of dollars in cash on his Instagram account. Related: 50 SLAMS Meek Mill… Again! The judge wants to know why 50, real name Curtis J. Jackson III, has access to so(…)