Another day, another Oak rumor. We received word from our sister site in LA that Oak's retail stores there will remain open in 2016. So what does this mean for the two locations in New York? Good news, maybe; if the LA stores are able to stay open, perhaps this means that the $600,000 Oak's founders offered to buy the brand back from American Apparel was approved.
Previously, American Apparel's bankruptcy proceedings called for the business to be shuttered by the end of the year. And earlier this month, Oak announced a major in-store sale at its Noho and Greenpoint locations, which we thought might be a thinly veiled disguise for a liquidation sale (we reached out to the brand for more information, but they never confirmed this rumor). But maybe it's just another retailer offering end-of-season discounts similar to Bergdorf Goodman, Barneys, and Saks Fifth Avenue.
By the way, if you find anything good at that sale, let us know in the comments section.