American Apparel Files for Bankruptcy Protection

At a time not too long ago, American Apparel was the arbiter of trendy, American-assembled fashion. Stores from coast to coast, and around the world, with a big banner that said "made in Downtown Los Angeles." But the LA-based clothing manufacturer and retailer's corporate woes have only made headlines. And today, the company announced it's filing for Chapter 11 bankruptcy protection. LA Observed's Kevin Roderick has more on the future of the company.