American Apparel, the store perhaps better known for the barely legal, oft-undressed models in its ads, and the peccadilloes of company founder Dov Charney, than for its actual clothing, has alerted the Security and Exchange Commission that it may need to file for Chapter 11 bankruptcy protection.

According to the AP, America Apparel’s SEC filing on Thursday noted that the protections may be required if the retail chain can’t improve its sales or find other sources of financing. The company warned that, even if it does file for Chapter 11, it may still be required to liquidate its inventory.

American Apparel warns it may file for bankruptcy [Forbes.com]

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