Oct
26
American Apparel Prepares to File for Bankruptcy, Again
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Move could come in the coming weeks, people familiar say
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Turnaround plan after previous bankruptcy never took hold
American Apparel Inc. is preparing for its second bankruptcy filing in as many years, according to people familiar with the situation, capping a tumultuous stretch that included tumbling sales, red ink and a split with controversial founder Dov Charney.
The filing may come as soon as the next few weeks, according to the people, who asked not to be identified because the discussions aren’t public. The move could help set the stage for a sale of the Los Angeles-based company by letting it exit leases and shutter part of the retail operation, according to the people. Still, the plan isn’t yet final and could change as the holiday season approaches…
American Apparel Prepares to File for Bankruptcy, Again
