TheGlassPeople

American Apparel Hands Out Layoff Notices, Extends Bidding Period

Twice-bankrupt clothing company American Apparel is in a hurry to get itself sold. While the company had a deal in place to sell to Gildan Activewear even before filing, now it has asked the court to change the auction timetable, but without extending the bidding process as long as its creditors would prefer. [More]

Michael Kalus

American Apparel Files For Bankruptcy (Yes, Again)

The writing has been on the wall for a while, and it seems the inevitable has finally come to pass: troubled apparel retailer American Apparel this morning filed for bankruptcy in a Delaware court. Yes, again. [More]

frankieleon

That Was Quick: 6 Top CEOs Who Have Been Unceremoniously Kicked To The Curb Since 2013

Upon hearing the news this morning that American Apparel CEO Paula Schneider was resigning from her post, we couldn’t help but feel a twinge of deja vu. After all, she’s far from the first top executive to cause a stir with a sudden departure. [More]

TheGlassPeople

American Apparel CEO Expected To Leave Company Next Monday

While clothing company American Apparel has survived bankruptcy and is considering outsourcing its manufacturing operations to a cheaper city than Los Angeles, it will have to do all of that under a different leader: the company’s current CEO is reportedly leaving in just over a week. The company’s chairman also left recently after just about six months in the job. [More]

TheGlassPeople

American Apparel May Move Manufacturing Out Of California

Part of American Apparel’s identity is tied to the company’s Los Angeles manufacturing facility, but executives for the recently bankrupt clothing company recently floated the idea of outsourcing trickier items to third parties. Now comes news that AA has its eyes on keeping its manufacturing in the states, but in areas where labor costs are lower. [More]

TheGlassPeople

American Apparel Tries Crowdsourcing To Find Expensive Products People Will Buy

Three months after going private and emerging from a contentious fight over its Chapter 11 bankruptcy protection, American Apparel is looking to put the pieces back together, and it’s starting with a crowdsourcing campaign to solicit ideas for products made in the U.S.  [More]

Michael Kalus

American Apparel Laying Off Hundreds Of Workers, May Outsource Some Manufacturing

As part of its continuing efforts to streamline costs and transform into a newer, leaner company after emerging from bankruptcy, a new report says American Apparel has slashed hundreds of jobs in its Southern California home recently, and may make some clothing outside of Los Angeles as part of an overall redesign of the production process. [More]

TheGlassPeople

Report: Dov Charney Creating Another Retail Chain In American Apparel’s Likeness

Now that Dov Charney’s dreams of owning American Apparel again have been totally and completely dashed, it’s time for a new plan: according to a new report, if he can’t have the company he founded, Charney is just going to start over with a new one. [More]

Judge Picks American Apparel’s Bankruptcy Plan Over Founder Dov Charney’s Buyout Bid

Judge Picks American Apparel’s Bankruptcy Plan Over Founder Dov Charney’s Buyout Bid

Dov Charney’s dream of buying back the company he founded would appear to be over: a U.S. judge said he will approve American Apparel’s plant to exit bankruptcy and rejected a takeover bid from the former CEO and his financial backers. [More]

American Apparel Rejects Takeover Bid From Former CEO Dov Charney & Pals

American Apparel Rejects Takeover Bid From Former CEO Dov Charney & Pals

Dashing former CEO and founder Dov Charney’s dreams (for now), American Apparel’s board of directors has rejected the $300 million takeover bid he put on the table earlier this week with the help of financial backers.

[More]

It’s Official: Former American Apparel CEO Dov Charney & His Pals Offer $300M For The Company

It’s Official: Former American Apparel CEO Dov Charney & His Pals Offer $300M For The Company

A report last week that said Dov Charney had teamed up with a financial backer to make a bid for his former company, American Apparel, has been confirmed. Though instead of offering up $200 million for the retailer, as orinaally reported, Charney and his ally have sweetened the deal, throwing $300 million on the table. [More]

TheGlassPeople

Report: American Apparel Receives $200M Takeover Bid From Investor Backing Former CEO Dov Charney

Last month, we heard rumblings that American Apparel’s founder and former CEO Dov Charney was working with an investment firm to figure out a plan to buy the company out of bankruptcy. The chain said at the time that Charney hadn’t made any kind of formal offer. Today, a new report says an investor working with Charney has offered up a takeover bid of more than $200 million for American Apparel. [More]

American Apparel Founder Not Ready To Give Up Yet, Hires Investment Bank To Work On Bid For The Company

American Apparel Founder Not Ready To Give Up Yet, Hires Investment Bank To Work On Bid For The Company

Now that American Apparel has filed for bankruptcy after losing money for years, there’s at least one very interested party possibly looking to swoop in and snap it up: the company’s founder and former CEO Dov Charney isn’t going to let the small matter of his termination from the company get in his way, and has hired an investment bank to help him put together a potential bid. [More]

(cmorran123)

Bankrupt American Apparel Turns To Same Hedge Fund That Helped RadioShack

At first glance, American Apparel and RadioShack don’t seem to have much in common: one uses provocative advertisements to sell leggings, T-shirts and other clothing items, while the other focuses more on the sale of wireless and electronic products. Unfortunately, the things the two companies do have in common aren’t so great: both have suffered through years of slumping sales that eventually led them to, separately, file for bankruptcy protection. And that means they could soon share a common hero in hedge fund Standard General.  [More]

American Apparel Files For Bankruptcy Protection

American Apparel Files For Bankruptcy Protection

Two months after American Apparel admitted it didn’t have enough financing to continue operations for another year, the retailer says things haven’t gotten better and it’s filed for Chapter 11 bankruptcy.  [More]

American Apparel Says It Doesn’t Have Enough Financing To Continue Operations Next Year

American Apparel Says It Doesn’t Have Enough Financing To Continue Operations Next Year

Between lawsuits, investigations and pressure from investors, American Apparel has its fair share of troubles over the past year and a half. But things don’t look to be getting any better for the retailer, as it announced today it doesn’t have enough financing to continue operations for another year. [More]

American Apparel Closing Some Stores, Launching New Line In Turnaround Effort

American Apparel Closing Some Stores, Launching New Line In Turnaround Effort

For much of the past year, American Apparel has been embroiled in a public dispute — and several lawsuits — with founder Dov Charney. It appears that problems for the retailer aren’t just confined to the former CEO’s alleged bad behavior, as the company announced it would undergo a $30 million cost-cutting effort in an attempt to return to its former funky glory. [More]

(Michael Kalus)

American Apparel Outlines Graphic Allegations Against Founder Dov Charney In Recent Court Filings

After getting fired from American Apparel in December for “alleged misconduct and violations of company policy,” former CEO and founder Dov Charney is not going down without a fight. The company is now responding to a recent slew of defamations lawsuits he’s filed against it, outlining some pretty graphic allegations in recent court filings.

[More]