American Apparel Up for Auction

American Apparel (Los Angeles) has notified nearly 3500 of its employees that they may lose their jobs as the company pursues bankruptcy.

According to The Wall Street Journal, corporate employees at the company’s headquarters could lose their jobs by January. The layoffs are not certain, though, and the move to alert employees was “a legal precaution.”

The company will go to auction on Jan. 9, and currently has received a $66 million bid for its brand name from Gildan Activewear Inc. (Montreal). As of yet, it does not have any bids for its 110 brick-and-mortar stores.