American Apparel files for bankruptcy

Posted online October 5, 2015 | 11:42 am

After months of warning investors that its sales and cash were dwindling, American Apparel filed for bankruptcy protection today.

Its Chapter 11 reorganization plan calls for creditors to provide $70 million in new capital and a $90 million bankruptcy loan.

The clothing manufacturer has spent millions on litigation feuding with founder and former CEO Dov Charney, who was ousted last year.

Read more from Fortune.

Comments

No comments on this story |

Please log in to add your comment

Lawmakers greenlight doctoral degree legislation that would benefit MSU

Editors' Pick

Sign of the Times: High premiums for employer plans drive 24M to the Marketplace, but will subsidies stay?

Under the weight of rising health care costs, an increasing number of people are surging to the Health Insurance Marketplace rather than opting for employer-sponsored plans.

Most Read