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Stock Market & Financial Investment News

News Breaks
June 24, 2014
06:41 EDTAPPAmerican Apparel co-chairman says firm not up for sale, Reuters says
American Apparel co-chairman Allan Mayer said the firm was not for sale, was not in need of immediate capital, and that the quest for a new CEO to replace ousted Dov Charney had generated "enormous interest," according to Reuters, citing comments from Mayer. 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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