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American Apparel files for bankruptcy protection
Source: BBC
American Apparel files for bankruptcy protection
5 October 2015 Business
Troubled clothes retailer American Apparel has filed for US bankruptcy protection.
The firm, which has been plagued by falling sales, high debts and several management crises, said it had agreed a deal to restructure its finances.
The Los Angeles-based company has been involved in a drawn-out legal battle with its founder Dov Charney.
American Apparel runs 260 shops and concessions in 19 countries. It expects the restructuring to take six months.
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5 October 2015 Business
Troubled clothes retailer American Apparel has filed for US bankruptcy protection.
The firm, which has been plagued by falling sales, high debts and several management crises, said it had agreed a deal to restructure its finances.
The Los Angeles-based company has been involved in a drawn-out legal battle with its founder Dov Charney.
American Apparel runs 260 shops and concessions in 19 countries. It expects the restructuring to take six months.
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Read more: http://www.bbc.com/news/business-34441143
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