Shoppers of American Apparel may soon need to find another place to get the perfect pair of gold spandex. As the retail company is looking at more then $100 million of debt -- and possible bankrupcy -- they also find themselves dangerously close to the due date of a refinacing loan they are not able to repay, according to WWD Retail.
The company is a little over a week away from a March 21 deadline to either renew or extend a large loan. If the retail chain fails to re-negotiate the deal, $60.6 million would immediately become due, throwing the clothing retailer's future in doubt, WWD reported.
American Apparel is the largest clothing manufacturer in the United States and performs its own design, advertising, and marketing. It is best known for making basic cotton knitwear such as t-shirts and underwear, but in recent years has expanded to include tank tops, vintage clothing, dresses, pants, denim and accessories for men, women, children, babies and dogs. There are several DC area locations including:
Georgetown
3025 M St., NW
Washington, D.C.
Lincoln Square
1090 F St., NW
Washington, D.C.
Silver Spring
Colesville Road
8701 Colesville Rd.
Silver Spring, MD
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