The Blind Leading the Blind: American Apparel Edition

October 12, 2010 • Fashion


Which is worse, having Dov Charney or a CFO of a recently bankrupted company as the acting president? Apparently, Charney still because American Apparel has found someone else to try to plug the holes in this already sinking ship.

Thomas Casey, who just left Blockbuster three weeks before the company declared bankruptcy last month, will be helping American Apparel repay its $80 million loan back to investors by September 2013 and is the new acting CEO. 

Charney said he's "excited" that Casey is climbing aboard."Tom's team-building skills, strategic perspective and senior management experience will help us build a great future for the company," Charney said in a statement. 

Though, not as many are as excited as Charney in this new move. "He is a banker," one source close to the company told The New York Post, noting Casey's former stints at Citigroup, Deutsche Bank and Merrill Lynch. "The company really needs a retailer."

Apparently, the company will take whatever they can get at this point. Can you blame them?

-Taneisha Jordan

Source: NY Post


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