American Apparel has closed all but one of its 13 UK stores with the loss of 150 jobs. The Los Angeles-based fashion brand, known for hotpants and slinky leggings, put its UK business into administration last month just before the troubled parent company agreed a deal to be taken over by Canadian T-shirt maker Gildan Activewear. Gildan is buying the worldwide rights to the American Apparel brand for $66m (£54m) and taking on its stocks, but does not want the group’s 230 global stores, just under half of which are in the US. American Apparel in the US has also filed for bankruptcy and the retailer has begun winding up its businesses in Spain, Japan and Australia as part of the deal with Gildan, which is expected to be finalised early next year. The only Irish store closed a few weeks ago. Read more at The Guardian.