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American Apparel to close all of its stores

American Apparel will be closing all 110 of its retail stores, as well as its Los Angeles headquarters.

The popular retailer, known for colorful cotton basics and its “Made in America – Sweatshop Free” logo, was acquired by Gildan Activewear on Jan. 10 for $88 million. At its peak in 2007, the bankrupt retailer was valued at $1 billion.

Gildan, a Canadian t-shirt and underwear maker, will reportedly close all American Apparel stores by the end of April. As many as 3,400 employees could lose their jobs.

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