Gildan Activewear has completed the acquisition of American Apparel after winning a bankruptcy court auction in January.
Gildan’s cash bid of $88 million included worldwide intellectual property rights and certain manufacturing equipment. American Apparel’s 110 stores are expected to close by April, according to the Los Angeles Times.
Minnesota’s first American Apparel store opened at 1433 W. Lake St., replacing American Eagle, in 2007.
A Minneapolis staff member said the closing date is not yet determined and will depend on inventory. A 40 percent-off sale is underway.
Heartbreaker has also closed at 2941 Hennepin Ave.
Staff said the owner is retiring and selling the building, while the Heartbreaker location in Tonka Bay remains open.