Racked is no longer publishing. Thank you to everyone who read our work over the years. The archives will remain available here; for new stories, head over to Vox.com, where our staff is covering consumer culture for The Goods by Vox. You can also see what we’re up to by signing up here.
Crain's estimates that American Apparel's financial problems could force it to close up to one-third of its 20 New York locations. Stores in neighborhoods that aren't known as mass market shopping destinations (like Tribeca or Brooklyn Heights) are probably the most vulnerable, although the chain might also close shops in areas that have more than one store. For its part, AA says it has no intention of shuttering anything yet, but the company's $120 million—and the fact that its stock dropped by over 40% in the last 24 hours—don't suggest anything too positive about its future. [Crain's]