2011 Rank 2010 Rank Company 2010 Revenue 2009 Revenue Employees Locations Principal City, State1 1 Broder Bros. $791,335,000 $705,235,000 1,039 18 Tom Myers, CEO Trevose, PA2 2/5 Ennis/Alstyle Apparel $550,000,000 $517,738,000 6,100 40 Keith Walters, Midlothian, TX chairman/CEO/president3 3 Norwood & BIC $385,000,000 $410,000,000 - - Nicolas Paillot, CEO Clearwater, FL Graphic North America4 4…
American Apparel Inc., the clothing chain that raised cash earlier this year to avoid a shortfall, is in talks to replace two of its six board members, according to three people involved in the discussions.
The group of investors that bought $14.9 million of stock in a private placement in April is part of the negotiations, said the people, who declined to be identified because the talks are private. Chairman and Chief Executive Officer Dov Charney will remain on the board, the people said. The changes may be announced this week.
American Apparel said it received a subpoena from the U.S. Attorney's Office for the Central District of California for documents relating to a complaint filed by a former employee with the Occupational Safety & Health Administration in November 2010. The information was disclosed in a regulatory filing.
The complaint contains allegations regarding American Apparel's policies regarding foreign currency transactions and transfer pricing, according to the filing.
"The company intends to fully cooperate with this subpoena," American Apparel said in the filing.
American Apparel said it's involved in other employment-related claims and management "believes that all such claims against the company are without merit."
Cincinnati-based TSC Apparel announced their 2011 Open House event, to be held in the newly expanded distribution center in Fullerton, Calif., on Friday, May 20.
American Apparel Inc. reported a smaller loss in the first quarter and the company says a key revenue figure has improved in the current quarter and is expected to rise for the full year.
The company is cutting costs and closing stores in the face of weak sales, legal issues and accusations of mismanagement.
The retailer reported after the markets closed Tuesday that it had a net loss of $20.7 million, or 28 cents per share, for the three months ended March 31, versus a net loss of $42.8 million, or 60 cents per share, a year ago.
Last week's rumors that American Apparel was in talks to receive an investment to prevent insolvency were borne out over the weekend, with a private group investing $15 million into the company, with the potential to increase that amount up to $45 million.
American Apparel is in the process of approving a deal to give the company a cash infusion and keep it solvent, Bloomberg is reporting.
Reuters reported that American Apparel, the retail and wholesale apparel manufacturer, may be looking for a buyer to bail the company out of its troubling financial situation.
Dov Charney, CEO of American Apparel, has purchased an additional 1.8 million shares of the company's stock. The company also recently hired Martin Staff as business development officer.
As labor and shipping costs in Asia increase, small stateside apparel makers are able to flaunt their domestic addresses.