Dov Charney could be the best businessman ever known with the most publicity the brand has had in years or a complete fool. I'm leaning towards the latter.
There is a chance that American Apparel could be delisted from the New York Stock Exchange. The company has until August 16 to get its act together or they could see themselves in a world of hurt. American Apparel still owes Lion Capital money from its previous loan in the company. And Lion Capital owns about 18 percent of American Apparel.
“American Apparel is unique because they’re on the cusp of a total collapse,” said Howard Davidowitz, chairman of the retail consulting and investment banking firm Davidowitz & Associates. “You don’t have many people out there breaching their loan covenants. They are not a going-forward company until they can resolve the financial issues.”
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