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Stock Market & Financial Investment News

News Breaks
June 19, 2014
15:01 EDTAPPAmerican Apparel chairman says no plan to sell company, Bloomberg reports
American Apparel co-chairman Allan Mayer says the company is "not pursuing any transaction" and that there are no plans to sell the company, according to Bloomberg, citing an interview with Mayer.
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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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