American Apparel Going Out of Business?

The blog world has been aflutter with American Apparel's recent financial problems. The Frisky reported that the socially-aware company is $91 million dollars in debt, and quoted the following public statement from the company: "There can be no assurance that if either or both of these events [restructuring deals] were to take place, that the company would be able to obtain the additional sources of liquidity required to continue operations." American Apparel is well-known for its risque ad campaigns and notorious CEO, but if you look past the sexy advertising tactics, the company boasts a vertically integrated manufacturing plan and cute, American-made basics at an affordable price point. Though I don't adhere to a "hipster" lifestyle, I'll be sorely disappointed if the company folds. Here is my favorite American Apparel purchase, the Cotton Spandex Jersey Bandeau Dress ($43) styled a few different ways:


If you're in love with any American Apparel staples, I suggest stocking up soon!