When Daejae Kim arrived in Los Angeles three decades ago, he took his first step into the apparel business in downtown's fashion district, where a budding Korean entrepreneurial community was beginning to take hold.
American Apparel employees are letting it be known that they aren't too happy with the way things are going with the beleaguered American Apparel. [ more › ]
Well, that escalated quickly. After reports that American Apparel could be going out of business due to financial troubles, a group of its workers took out their ire on a piñata in the image of CEO Paula Schneider in front of the company's L.A. headquarters last week. (A video of... More »
Things are most definitely not going well at American Apparel, a notion rendered bizarrely concrete by a demonstration held last week in which a piñata likeness of CEO Paula Schneider was hacked apart by workers wearing “I Read more...
Jorn Weisbrodt, Rufus Wainwright’s husband, will be stepping down from his position as artistic director of Toronto’s Luminato Festival after the 2016 season. Weisbrodt ran the festival for five years, and was responsible for opening...Show More Summary
R.I.P. American Apparel. Please for the love of God just rest in peace already.
Pour one out for the leotards and jumpsuits: American Apparel, the vertically integrated hipster empire and purveyor of casual bodysuits, will likely be going out of business. On Monday, the company released second-quarter financialShow More Summary
American Apparel seems to be on its last disco-panted leg.
American Apparel might be closing down soon. The company strongly hinted at its closure in the near future, amidst rising losses and mounting debts. Citing “substantial doubt” about its future prospects, American Apparel issued its strongest indicator yet, about its impending dissolution. Show More Summary
With falling sales and legal troubles, the clothing retailer doesn't have enough cash on hand to make its debt payments. American Apparel appears to be on the brink of bankruptcy, according to a regulatory filing from the company. Read Full Story
These are the stories making headlines in fashion this Tuesday.Cara Delevingne opens up about sexual harassment in the fashion industryPerennial "It" girl Cara Delevingne is continuing to speak out about her qualms with the modeling industry. In a new interview, the 23-year-old... Continue reading
American Apparel's past year and a half has been a miniseries-worthy saga. The latest in its up-and-down recent history? The company hinted that it may have to file for bankruptcy. According to Fortune, sales have fallen 17.2 percent, and AA may not have enough cash to get through the next... More »
Wall Street sees little chance of the retailer avoiding bankruptcy
(Reuters) - Troubled teen retailer American Apparel Inc on Monday raised going concern doubts, saying it may not have enough capital to sustain operations for the next 12 months as losses widened and cash flows turned negative. As of August 11, the company had about $11.2 million in cash, it said in a regulatory filing on Monday. Show More Summary
Beleaguered American Apparel Inc. said it is hanging on by a thread.
Casual apparel retailers including American Eagle have been losing customers to fast fashion players such Zara and Forever 21, which have taken the industry by storm with their affordable fashion-forward merchandise. In response, American...Show More Summary
Its shares fell 8 cents Wednesday, closing at 13 cents. Its market capitalization stands at about $24 million, according to FactSet.
Despite a restructured leadership, several rounds of layoffs and store closings, and a marketing revamp, American Apparel continues to suffer extreme financial losses. Read more...
Between lawsuits, investigations and pressure from investors, American Apparel has its fair share of troubles over the past year and a half. But things don’t look to be getting any better for the retailer, as it announced today it doesn’t have enough financing to continue operations for another year. The Associated Press reports that American Apparel is looking at … [More]
With an uncertain financial future ahead, American Apparel is still struggling to recapture shoppers' interest. According to preliminary numbers, the company brought in just $134 million in sales during the second quarter of the year, which ended June 30 — a solid $28 million less than the... Continue reading