Report: American Apparel in Talks to Pay Off Loan
Los Angeles—In another twist in the American Apparel story, the Wall Street Journal reported Sunday that the retailer is in talks with Standard General, the New York-based hedge fund that controls 43%...
View ArticleThe Latest: American Apparel Disputes Claim It Defaulted on $9.9M Loan
Los Angeles—American Apparel today disputed a claim by Lion Capital that it had defaulted on a $9.9 million loan.The retailer, which ousted founder/CEO Dov Charney more than two weeks ago, said Lion...
View ArticleAmerican Apparel Agrees to $25M Cash from Shareholder, Charney to Return
Los Angeles—He’s back. Yes, Dov Charney the controversial and recently ousted chief executive at American Apparel, will return to the company as a consultant. That’s part of the deal announced late...
View ArticleWeek in Review: Top 10 Must Reads
New York—Controversy was the name of the game this week. What with renegade ex-CEO Dov Charney in a deal that returns him to American Apparel, the recipient of a $25 million lifeline. ShopperTrak,...
View ArticleAmerican Apparel Improves in Preliminary Report
Los Angeles–American Apparel Inc. said Tuesday said it won’t meet the filing deadline for second quarter financial statements because its new board needs more time to review results, but it provided...
View ArticleAmerican Apparel Picks Outsider as Interim CEO
Los Angeles–Struggling retailer American Apparel has hired turnaround specialist Scott Brubaker as its interim chief executive officer. The company has also named Hassan Natha, a former Nike Inc....
View ArticleAmerican Apparel Suffers Big Loss in Q3
Los Angeles–American Apparel continued to struggle as it posted a $19.2 million loss, or 11 cents a share, in the third quarter and its stock fell to under 70 cents in trading today (November 11). The...
View ArticleWeek in Review: Top Online Articles to Recall
New York—There some ominous clouds beginning to cover what had looked like a bright holiday season. In the first busy week of earnings season, the majority of retailers—from Walmart to Macy’s to...
View ArticleAmerican Apparel Names Paula Schneider as CEO, Terminates Dov Charney
Los Angeles—It’s official, Dov Charney, founder/former president/ceo at American Apparel has been terminated “for cause in accordance with the terms of his employment agreement.” The announcement came...
View ArticleWeek in Review: Important News from Final Holiday Shopping Days
New York—With less than a week to go, here’s what the latest surveys and speculation reveal about what kind of holiday season 2014 will have. First, Super Saturday, Dec. 20, will be the biggest selling...
View ArticleAmerican Apparel Adopts Poison Pill, Considers Offer
Los Angeles–American Apparel, which named a new CEO last week and permanently severed its relationship with its controversial founder, has adopted a “poison pill” shareholder rights plan as it...
View ArticleFactory Workers Claim Harassment at American Apparel
Los Angeles—A skirmish between factory workers and the new executive regime at American Apparel has apparently erupted this week with workers charging harassment and physical intimidation at the...
View ArticleSEC Begins Formal Investigation into Ex-CEO Dov Charney
Los Angeles–The Securities and Exchange Commission (SEC) has launched a formal investigation into the conduct of Dov Charney, founder and ousted CEO of American Apparel. The Made in USA retailer...
View ArticleAmerican Apparel Announces Next Phase of its Strategic Turnaround Plan
Los Angeles–American Apparel, Inc. announced today the next phase of its strategic turnaround plan, including a redesigned fall merchandise line, approximately $30 million in cost-cutting initiatives,...
View ArticleAs Expected, American Apparel Files Bankruptcy, Reorganization Plans
Los Angeles—It appeared inevitable: after failing to make a profit or turnaround sales and operations since 2009, American Apparel Inc. filed today for Chapter 11 bankruptcy protection and revealed a...
View ArticlePreliminary Q3: American Apparel’s Sales Plunge Nearly 20%
Los Angeles—Retailer in bankruptcy American Apparel Inc. reported Tuesday a narrowed loss in preliminary results for the third quarter. American Apparel said that it couldn’t meet the deadline to file...
View ArticleReport: Dov Charney Hopes to Buy Back Bankrupt American Apparel
Los Angeles—He may be out, but he’s not down. Dov Charney, American Apparel founder and ousted ceo, reportedly is exploring ways to lure investors into buying back the bankrupt company. Charney, who...
View ArticleAmerican Apparel Receives Takeover Bid as Reorganization Plan Is Approved
Los Angeles—American Apparel, the Made-in-USA retailer that went bankrupt last fall, announced today that its creditors approved its reorganization plan. Coincidentally, the retailer got a $300 million...
View ArticleJudge Approved American Apparel’s Bankruptcy Plan; Charney Out for Good
Wilmington, DE—A federal bankruptcy judged today made it official: Dov Charney won’t be returning to American Apparel anytime soon. Judge Brendan Shannon approved approved a reorganization that hands...
View ArticleAmerican Apparel Emerges from Chapter 11 as Private Company
Los Angeles—After a tumultuous few months and a last chance try by former Chairman/CEO Dov Charney to return to its helm, American Apparel said Friday it has emerged from chapter 11 as a private...
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