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Stock Market & Financial Investment News

News Breaks
June 19, 2014
07:59 EDTAPPAmerican Apparel CEO firing paves way for potential sale, NY Post says
After American Apparel replaced Dov Charney as chairman and notified him of its intent to terminate his employment as president and CEO for cause, the New York Post reported that insiders believe that the change at the top paves the way for a potential sale of the company. Sources said Charney’s personal conduct with women was among the longstanding issues that contributed to the move, and that the change does not appear to be related to troubles with the company’s operations, the Post added. Reference Link
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July 27, 2015
07:22 EDTAPPAmerican Apparel close to bankruptcy, NY Post reports
American Apparel is on the brink of bankruptcy, the New York Post reports. The retailer is currently short on cash reserves and faces a large bond payment in less than three months, all in addition to piling legal bills over the Dov Charney lawsuit over alleged sexual harassment, the report says. Investors are bracing themselves for all-out bankruptcy when the company releases its quarterly earnings, the report adds. Reference Link

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