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Judge Approved American Apparel’s Bankruptcy Plan; Charney Out for Good

In Industry News, What's New by Jeff PrineLeave a Comment

Wilmington, DE—A federal bankruptcy judged today made it official: Dov Charney won’t be returning to American Apparel anytime soon. Judge Brendan Shannon approved approved a reorganization that hands control of the retailer to senior lenders, rejecting Charney’s alternative proposal and eliminating what may have been his last shot at retaking …

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American Apparel Ex-CEO Dov Charney Defends Himself in Bankruptcy Court

In Industry News, Profiles, What's New by Accessories StaffLeave a Comment

Wilmington, DE—Ousted American Apparel CEO/Founder Dov Charney made what could be his final attempt to wrestle back the bankrupt Made-in-the-USA apparel and accessories retailer. Speaking at bankruptcy court here, Charney, whose $300 million takeover bid with Hagan Capital Group and Silver Creek Capital Partners was rejected, In what press reports …

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American Apparel Receives Takeover Bid as Reorganization Plan Is Approved

In Industry News, What's New by Accessories StaffLeave a Comment

Los Angeles—American Apparel, the Made-in-USA retailer that went bankrupt last fall, announced today that its creditors approved its reorganization plan. Coincidentally, the retailer got a $300 million buyout offer backed by ex-CEO/Founder Dov Charney who was ousted from his post last year. Hagan Capital Group and Silver Creek Capital Partners …

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As Expected, American Apparel Files Bankruptcy, Reorganization Plans

In Industry News, Reports, What's New by Accessories StaffLeave a Comment

Los Angeles—It appeared inevitable: after failing to make a profit or turnaround sales and operations since 2009, American Apparel Inc. filed today for Chapter 11 bankruptcy protection and revealed a reorganization plan that would keep its retail and made-in-USA manufacturing facilities open. Under the agreement reached with its most secured …

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American Apparel Announces Next Phase of its Strategic Turnaround Plan

In Industry Experts, Reports, What's New by Accessories StaffLeave a Comment

Industry Experts

Los Angeles–American Apparel, Inc. announced today the next phase of its strategic turnaround plan, including a redesigned fall merchandise line, approximately $30 million in cost-cutting initiatives, and key additions to its leadership team. For the first time in its history, later this year, American Apparel will unveil a new fall …

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Factory Workers Claim Harassment at American Apparel

In Industry News, Reports, What's New by Accessories StaffLeave a Comment

Los Angeles—A skirmish between factory workers and the new executive regime at American Apparel has apparently erupted this week with workers charging harassment and physical intimidation at the retailer’s manufacturing facility here. With the support of Hermandad Mexicana, an immigrant’s rights advocacy non-profit, factory workers of American Apparel have united …

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American Apparel Names Paula Schneider as CEO, Terminates Dov Charney

In People, Reports, What's New by Accessories StaffLeave a Comment

People

Los Angeles—It’s official, Dov Charney, founder/former president/ceo at American Apparel has been terminated “for cause in accordance with the terms of his employment agreement.” The announcement came from the company’s board of directors who named veteran fashion executive Paula Schneider as chief executive officer, effective January 5, 2015. Scott Brubaker, …

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American Apparel Picks Outsider as Interim CEO

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People

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, …

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American Apparel Agrees to $25M Cash from Shareholder, Charney to Return

In People, Reports, What's New by Accessories StaffLeave a Comment

People

Los Angeles—He’s back. Yes, Dov Charney the controversial and recently ousted chief executive at American Apparel, will return to the company as a consultant. That’s part of the deal announced late Wednesday: financially strapped American Apparel made a deal with its largest shareholder, New York hedge fund Standard General, for …