Source Abroad Inc., Ingelwood, California, a supplier of promotional merchandise, was ranked No. 2287 on the Inc. 500/5000 list of the fastest-growing private companies in America.
Montreal - Dov Charney, a 41-year-old eccentric Montreal native, built into a global retail powerhouse in seven short years while taking substantial heat for his loose hiring policies, risquÃ© ads and alleged sexual harassment of former employees. Now, with regulators breathing down his neck, lenders shying away and the chain warning it might not have enough available cash to keep operating another year, Mr. Charney could be forced to relinquish control of the company he built from the footless plush pantyhose up. âDov Charney is at the moment of truth,â said Howard Davidowitz, chairman of Davidowitz & Associates Inc.,
I have to say this week's news highlighting the trials and tribulations facing American Apparel have been painful for me.
Shares of American Apparel plummeted another 21% Wednesday, on top of a comparable drop the previous day, as the casual clothing chain said accounting troubles that have put it on the brink of closing have led to investigations.
US fashion retailer American Apparel has received a federal subpoena and is also under investigation by the Securities and Exchange Commission relating to the circumstances of its change in auditors.
Casual clothing chain American Apparel, suffering a steep sales slump and manufacturing problems, warned Tuesday that it might default on loans and not be able to stay in business.
The Los Angeles retailer's stock fell 14% Thursday after a company filing said Deloitte & Touche had resigned as its independent public accounting firm.
2010 Rank 2009 Rank Company 2009 Revenue 2008 Revenue Employees Locations Principal City, State 1 1 Broder Bros. $688,000,000 $903,000,000 - 19 Tom Myers, CEO Trevose, PA 2 2 Ennis $584,029,000 $610,610,000 5,200 40 Keith Walters, chairman/CEO Midlothian, TX 3 4/7 Norwood & BIC $410,000,000 n/a 2,300 7 Quenten Wentworth, Clearwater, FL Graphic North America…
Los Angeles-based American Apparel Inc., a vertically integrated manufacturer, distributor, and retailer of branded fashion basic apparel, announced that it received a letter from the NYSE Amex LLC (the "Exchange") that the Exchange accepted the company's previously submitted plan of compliance and, pursuant to such plan, has granted the company an extension until August 16, 2010 to regain compliance with its continued listing standards.
(Reuters) - Dov Charney's American Apparel is a staple of urban hipsters around the world for its colorful T-shirts, spandex leggings and other edgy, "Made-in-USA" retro apparel.
But what the company could really use is a suit -- that is, a button-down, business grown-up type to complement the outspoken, volatile Charney, according to a growing number of people on Wall Street.
Investors' patience with Charney, a self-described hustler and the company's founder and CEO, is waning as the eccentric apparel visionary finds himself in troubled financial situations time and time again, they say.
And yet, Charney may have pulled himself and the company out of another hole, by negotiating a key debt revision with its main lender. Sources close to the company said they fully expect American Apparel (APP.A) and its main backer, British-based private equity firm Lion Capital, to reach an agreement that will prevent the company from a looming debt covenant breach.