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
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]
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]
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]
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]
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.
Any hope founder of American Apparel Dov Charney had of returning to the company may have gone out the window this week, after it was revealed that the Securities and Exchange Commission opened an inquiry into the circumstances leading to his departure. [More]
Just a week after American Apparel officially bid adieu to its founder Dov Charney after a six-month suspension, the company confirmed it has been approached with a takeover offer that would reinstate the disgraced official. [More]
After removing CEO Dov Charney from his post back in June, American Apparel says it’s officially finished with the company founder. After investigating Charney for “alleged misconduct and violations of company policy,” the company said “it would not be appropriate for Mr. Charney to be reinstated as CEO or an officer or employee.”
Last week, the board of American Apparel fired the company’s founder and CEO Dov Charney under the vague cloud of “misconduct,” leading some to wonder if any of the numerous sexual harassment claims made against the controversial businessman had been proven true. But the board’s explanation for his dismissal seems to indicate that the company just got sick of him being a jerk who costs them a lot of money. [More]
It would be easy to say it’s been a tough week for American Apparel founder and former CEO Dov Charney, but let’s be serious: Getting the boot from your company’s board and then dealing with a video that allegedly shows you dancing around with your private bits out in full view of alleged employees… well, that’s more than a tough week. You know, on top of a plethora of past sexual harassment lawsuits and a reputation for bawdy, bad behavior and near-bankruptcy. [More]
American Apparel founder and CEO Dov Charney is the cockroach of the U.S. garment industry; reviled by many but seemingly impossible to get rid of. He’s weathered numerous sexual harassment lawsuits and countless stories of obnoxious behavior, all while occasionally teetering on the verge of bankruptcy. Most other CEOs would have been shown the door long ago, but not Charney. That is until yesterday, when the American Apparel board unanimously voted to remove the divisive figure. [More]
American Apparel’s advertising has generally been notable, but never for its restrained good taste. They’re best known for the exact opposite of that, actually. This week, the company is getting some very badly-wanted attention with a window display featuring mannequins in thin white panties with lush brunette lady gardens. [More]
There’s nothing like retailers taking advantage of natural disasters to get our collective duff up, something American Apparel is currently learning after offering a sale for people “bored” during Hurricane/Superstorm Sandy last night. [More]
As we reported last month, American Apparel, the clothing store often associated with emaciated teens, launched its “Next BIG Thing” contest to find a model for a new line of plus-sized clothing. Many hopefuls entered, but the woman who actually won the vote won’t be featured in an AA ad any time soon because the retailer didn’t quite appreciate her sense of humor.
We’re sure American Apparel is just trying to be ever-so-adorable by making a play on the phrase “next big thing,” it’s not exactly cute to call someone a ” big thing” when you’re searching for a model to show off XL sizes of clothing.