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]
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]
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]
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]
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]
It’s been a while since we’ve had a good bankruptcy rumor floating around. Jezebel says thong superstore American Apparel is just asking for it: “[The retailer] has experienced declining year-on-year same-store sales in every month for which the company has made records available since February, 2009.”
The next time you zipper yourself into that gold spandex unitard, beware, law-abiding consumer — it was created by a man that could be considered a downright criminal in Toronto! That’s right, beyond the legal troubles already surrounding American Apparel founder Dov Charney — you know, the sexual harassment lawsuits and whatnot — there’s more.