American Apparel Files for Bankruptcy

Early Monday morning, American Apparel — a retailer known as much for its controversies and envelope-pushing ads as it is for its spandex — filed for bankruptcy protection, citing $311 million in debt, sales declines, employee dissatisfaction and lawsuits, several involving twice-ousted founder and former CEO Dov Charney, as causes. This doesn’t come as a surprise — back in August, the company sent out a press release expressing doubts it would … Read more American Apparel Files for Bankruptcy

Thousands of workers laid-off post American Apparel’s declaration of bankruptcy

CALIFORNIA, U.S. – American Apparel has started laying-off workers by thousands following its declaration of bankruptcy. Following a bankruptcy auction which Gildan Activewear won at $88 million, the company still had hope for survival, but not anymore. The latter recently withdrew its plan to acquire some of American Apparel’s operations. Arielle Patrick, American Apparel spokeswoman … Read more Thousands of workers laid-off post American Apparel’s declaration of bankruptcy

American Apparel files for second bankruptcy in just over a year

American Apparel LLC filed for its second bankruptcy protection in just over a year on Monday, weighed down by intense competitive pressures facing U.S. teen retailers and a rocky relationship with its founder. The second bankruptcy comes as the retailer struggles to overcome years of losses and rising online competition. The company became a part … Read more American Apparel files for second bankruptcy in just over a year

Sophia Amoruso’s fashion company Nasty Gal reportedly filing for bankruptcy

The online clothing retailer Nasty Gal is reportedly filing for bankruptcy in order to restructure after two years of financial troubles. The company was founded by Sophia Amoruso, the bestselling author of #Girlboss, who is touring Australia with the ticketed Business Chicks event. Amoruso, 32, is scheduled to speak before a sold-out Sydney breakfast event … Read more Sophia Amoruso’s fashion company Nasty Gal reportedly filing for bankruptcy