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

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