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US Retailers Suffer in UK
It hasn't been a very good year for U.S. retailers that branched out to England.
In October, Banana Republic closed eight stores - seven in London and one in Bath, and Forever 21 is evaluating its retail line-up.
Now American Apparel, in bankruptcy for the second time, has closed 12 of its 13 stores - with the last one to shutter soon in London.
American Apparel has received a $66 million bid to buy the worldwide rights to its brand name, but the bidder, Canadian T-shirt company Gildan Activewear, doesn't want the retail chain.
American Apparel is also planning to close nine stores in the United States, leaving 98 U.S. retail spots in the American Apparel chain. If no one bids for the retail location, say good-bye to American Apparel stores.
