AMERICAN APPAREL FILES FOR BANKRUPTCY

American Apparel Files For Bankruptcy
Comments

AMERICAN APPAREL FILES FOR BANKRUPTCY



Written by Don't Panic
05 Monday 05th October 2015

If you like good quality, well-fitting clothes that are too expensive, as well as a decent smattering of soft porn, then you'll be sad to hear that American Apparel has filed for bankruptcy protection.

The news follows a particularly disastrous year, in which the company's stock dropped by 87% and it recorded a loss of $19.4m (£12.8m). The struggles have also involved a drawn out legal battle with the brand's pervy founder, Dov Charney, who was fired over a year ago due to a string of allegations against him.

The brand now hopes to restructure in an effort to minimise its debt. At this stage, there are no plans to close any of the stores or manufacturing operations. According to chief executive Paula Schneider, the planned restructure “will enable American Apparel to become a stronger, more vibrant company.”

And now, without further ado, I, and every other website relaying this news, will deposit a few of the images which went someway to establishing - and then crippling - American Apparel's reputation:

Don't Panic attempt to credit photographers and content owners wherever possible, however due to the sheer size and nature of the internet this is sometimes impractical or impossible. If you see any images on our site which you believe belong to yourself or another and we have incorrectly used it please let us know at panic@dontpaniconline.com and we will respond asap.



Comments

MORE FROM DON'T PANIC