The Traderszone Network

Published in TZ Latest News 4 October, 2015 by The TZ Newswire Staff

American Apparel files for bankruptcy

American Apparel said it would continue to operate its business throughout the process with its retail stores, wholesale and U.S. manufacturing operations continuing without interruption. Under the restructuring agreement, American Apparel’s secured lenders will provide about $90 million in debtor-in-possession financing, the company said. American Apparel, founded in 1989 by Dov Charney whose ‘Made in America’ mantra found huge favor among young shoppers, has been in disarray after it fired Charney in December for alleged misconduct.