This has been the apparel saga of the decade as the bumpy ride of American Apparel, a teen retail favorite with more than 230 stories that revolutionized the concept of first-layer fashion and more, finally announced on Sunday, October 4, 2015 that they were filing for Chapter 11 bankruptcy. In their statement, $90 million in […]
We saw this coming a mile away in our Youth Culture Studies when we noticed that Quiksilver started losing rankings in preferences among the youth marketplace starting around 2006. While many teen retailers blame the 2008 recession for the beginning of economic hard times, the real trouble is when your target market thinks you’re completely […]
American Apparel is in talks for potential bankruptcy just when it seemed like things couldn’t get worse. 17% decline in revenue from $19.4 million in their second quarter to $16.2 million a year ago means they have burned about $23 million in Q2 alone. There are also some 20 lawsuits surrounding the firing of former […]
Little was known about the fact that Karmaloop, the Boston-based streetwear ecommerce site that everyone strived to replicate or be a part of, was on the verge of bankruptcy. Launched by Greg Selkoe 15 years ago, it became one of the predominate sites for leading-edge streetwear brands. It also showcased Karmaloop TV at various trade […]
The writing was on the wall for the teen retailer when on January 7 of this year, Wet Seal announced the closing of 338 stores and a lay-off of 3,695 employees. On January 16, 2015, Wet Seal announced that it had filed for chapter 11 bankruptcy. Ed Thomas, Wet Seal’s CEO said, “After careful consideration, […]
The story of Metropark, the retail chain crossing action sports, streetwear, and denim, marks an interesting example of what can happen in a recession.