Los Angeles–Struggling retailer American Apparel has hired turnaround specialist Scott Brubaker as its interim chief executive officer. The company has also named Hassan Natha, a former Nike Inc. executive, as executive vice president and chief financial officer
Brubaker has served in interim and advisory positions for a number of retailers and manufacturers, according to the company.
American Apparel fired its CEO Dov Charney in June, citing alleged misuse of corporate funds and his role in disseminating nude photos of an ex-employee who had sued him.
Alvarez & Marsal was hired by hedge fund and shareholder Standard General to support the company’s finance department, New York Post reported in July.
Standard General gained control of nearly 44% of American Apparel after Charney transferred his stake to the hedge fund as collateral for a loan.
The hedge fund, which also has voting rights over Charney’s stake, is leading the company’s efforts to avoid bankruptcy.
American Apparel, which has had only one profitable quarter since 2010, had long-term debt of $215.8 million as of June 30.
Allan Mayer, American Apparel’s co-chairman, said Brubaker and Natha would bolster the retailer’s executive ranks.
“We are confident that their experience and leadership will help the company achieve its goals,” he said in an announcement of the moves.
Brubaker replaces John Luttrell, who is resigning from the company. Luttrell had been serving as both interim CEO and CFO.