American Apparel: Bankruptcy

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American Apparel files for bankruptcy Last night American Apparel revealed that they filed for bankruptcy after a year and a half. Conflict with the former CEO Dov Charney that was fired last December, has kept the retailer in headlines while it struggled with its debts. The company filed for Chapter 11 bankruptcy which supposedly has cut the company's debt from $300 million to $135 million dollars, a move that the company is hoping will let them rebuild the brand. CEO Paula Schneider stated to WWD that, “this restructuring will enable American Apparel to become a stronger, more vibrant company.” She continued on stating that, “by improving our financial footing,

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