Fashion

Looks Like American Apparel Is About to File for Bankruptcy — Again

Sex isn’t selling after all.

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1,384 Hypes

Looks Like American Apparel Is About to File for Bankruptcy — Again

Sex isn’t selling after all.

This recent year saw American Apparel attempt to regain footing once again after ousting founder and CEO Dov Charney in  December 2014 before filing for bankruptcy months later. The retailer launched a line of luxury T-shirts and other basics as a comeback of sorts — but that initiative appears to have failed. Business of Fashion reports a second filing will occur within the next few weeks, according to sources.

The bankruptcy may lead to a sale of the company, say those close to the situation. This could result in forcing some, if not all, of the retail locations to shutter depending on if a potential buyer is interested in only the wholesale and American Apparel brand itself. Last month, CEO Paula Schneider resigned after assuming the position following Charney’s departure — a major sign of what’s impending ahead. Looks like sex — a major component of the brand’s image — just hasn’t been selling very well.

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