American Apparel files for bankruptcy

[Unknown Poster]

American Apparel‘s 39 Comments have taken to a downward spiral. After a tedious high-profile battle with Canadian founder and former CEO Dov Charney over a string of accusations, HUH. reports the clothier is facing a record £12.8 million GBP (approximately $19.5 million USD) in losses and an 87% drop in share prices. As a result, the clothing manufacturer has officially filed for U.S. bankruptcy protection.

Situations like this can either be a blessing or a curse. On the upside, the retailer has the opportunity to implement some major company restructuring to collect its close to $300 million USD debt. Current CEO Paula Schneider has announced plans to reduce AA’s debt to $135 million over a six-month plan, that “will enable American Apparel to become a stronger, more vibrant company.” Currently there are no plans to shut down any of its stores.

American Apparel Files for Bankruptcy

 

[Thizz Khalifa.]

Damn their clothes are bland but their cotton is great

 

[ClevelandSteamer]

Good their shyt extra lame

 

[KravenMorehead™]

Did it come from them firing ol boy and not having the accumen to keep it afloat, or was it the plan of the people kicking him out to liquidate the company off top? I'm wondering

 

[Lost His Smile]

I stopped fukking with them a long time ago. If Im going to get basics, Im going Uniqlo (which is rare for me nowadays. If I need something for cold weather, Im looking at merino wool from reliable companies that specialize in that category.

 

[Unknown Poster]

Damn their clothes are bland but their cotton is great

They make good basics but it's just so overpriced.

50 for a plain grey zip up hoodie
24 for a blank white t (they fit great though)

I will salute them for being the last company that actually produced all of their items stateside but they opened up way too many retail stores in a time where retail space is decreasing.

The staff at most of the stores sucks too.

 

[Unknown Poster]

Did it come from them firing ol boy and not having the accumen to keep it afloat, or was it the plan of the people kicking him out to liquidate the company off top? I'm wondering

Dov? He brought it on himself.

Got successful, couldn't keep it in his pants, felt like he could have his way with all of his female employees and managed to get ousted from his own company. That whole debacle brought alot of negative feedback to the company.

They say they aren't closing any stores but I can see them closing stores in the future...

 

[Unknown Poster]

I stopped fukking with them a long time ago. If Im going to get basics, Im going Uniqlo (which is rare for me nowadays. If I need something for cold weather, Im looking at merino wool from reliable companies that specialize in that category.

Uniqlo is ten times better anyways. I love their stuff.

Plus it's more of an "exclusive" fast fashion brand considering it's still only in NYC, NJ, and SF.

 

[CrimsonTider]

Too expensive and too plain

 

[Groanman]