American Apparel, Inc.OTCPK - Current
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  • Mon, Nov. 14, 3:46 AM
    • Teen retailers are continuing to struggle... American Apparel (OTCPK:APPCQ) has filed for its second Chapter 11 bankruptcy in just over a year, listing assets and liabilities in the range of $100M-$500M.
    • Separately, Canada's Gildan Activewear (NYSE:GIL) agreed to buy intellectual property rights related to the American Apparel brand for about $66M in cash, but will not be purchasing any retail stores assets.
    | Mon, Nov. 14, 3:46 AM | 1 Comment
  • Wed, Nov. 9, 1:32 AM
    • As it prepares for its second bankruptcy in as many years, American Apparel (OTCPK:APPCQ) has resumed sale talks with Sequential Brands (NASDAQ:SQBG) and Riley Financial (NASDAQ:RILY) after negotiations with Authentic Brands stalled earlier this week, Reuters reports.
    • Declaring bankruptcy would allow any buyer of the Los Angeles company to avoid tens of millions of dollars in liabilities, including leases for around 140 stores in the U.S. and Canada.
    | Wed, Nov. 9, 1:32 AM
  • Thu, Aug. 18, 3:32 AM
    • Just six months after it emerged from Chapter 11 bankruptcy, American Apparel (OTCPK:APPCQ) has hired investment bank Houlihan Lokey to explore a sale, Reuters reports.
    • Teen clothing retail has been recently hit by the growing popularity of online shopping. At least eight teen apparel retailers filed for bankruptcy this year amid fierce competition and stagnating sales, including Aeropostale, PacSun and the Wet Seal.
    | Thu, Aug. 18, 3:32 AM | 1 Comment
  • Wed, Apr. 13, 4:54 AM
    • American Apparel (OTCPK:APPCQ) is laying off hundreds of workers as it overhauls its production process, which could include outsourcing part of its production to another U.S. manufacturer, the LA Times reports.
    • "If we do decide to produce some pieces out-of-house, they will still be American-made," Chief Executive Paula Schneider wrote in a letter.
    • The fashion chain filed for bankruptcy in October following years of losses, but expects to be profitable in 2018.
    | Wed, Apr. 13, 4:54 AM
  • Wed, Mar. 30, 4:18 AM
    • After emerging from bankruptcy last month as a private company, American Apparel (OTCPK:APPCQ) has named the former head of Liz Claiborne as chairman of its revamped board.
    • Joining him will be Susan Davidson, another Claiborne veteran, and Bruce Fetter, CEO of St. John Knits.
    • The changes are aimed at bolstering the seven-person board's retail experience as American Apparel attempts a comeback.
    • Previously: American Apparel clears bankruptcy (Feb. 08 2016)
    | Wed, Mar. 30, 4:18 AM
  • Fri, Feb. 5, 6:34 PM
    • American Apparel (OTCPK:APPCQ) says it has emerged from bankruptcy proceedings as a private company after implementing its reorganization plan.
    • The plan swapped $230M in debt for equity with bondholders and provided for $40M of exit capital for the company and a commitment for a $40M asset-backed loan.
    • Under the plan, the company becomes a Delaware limited liability company and will be known as American Apparel LLC.
    | Fri, Feb. 5, 6:34 PM | 12 Comments
  • Tue, Jan. 26, 2:12 AM
    • U.S. Bankruptcy Judge Brendan Shannon has approved the Chapter 11 exit plan of American Apparel (OTCPK:APPCQ), handing the retailer over to its bondholders and dashing former CEO Dov Charney's hopes of regaining control of the company he founded.
    • The plan, which had been unanimously approved by creditors nearly two weeks ago, will swap $230M in debt for equity with bondholders, wiping out Charney's stake.
    • Previously: Fate of American Apparel comes Monday (Jan. 22 2016)
    | Tue, Jan. 26, 2:12 AM | 7 Comments
  • Fri, Jan. 22, 2:22 AM
    • A U.S. judge will decide on Monday whether retailer American Apparel (OTCPK:APPCQ) can exit bankruptcy under the control of hedge funds or give former chief executive Dov Charney a chance to finance a competing plan.
    • American Apparel filed for bankruptcy in October and last month Charney and two investment funds presented a $300M takeover plan that was recently rejected by the company's board.
    • Previously: Bloomberg: American Apparel rejects takeover bid (Jan. 15 2016)
    • Previously: CNBC: Fresh bid for American Apparel (Jan. 11 2016)
    | Fri, Jan. 22, 2:22 AM | 2 Comments
  • Fri, Jan. 15, 1:59 AM
    • American Apparel's (NYSEMKT:APP) board of directors has rejected the latest takeover from investors who are backing the return of the retailer's ousted founder, Dov Charney, Bloomberg reports.
    • The vote means an offer valued at $300M from investment funds Hagan and Silver Creek Capital must be further sweetened to win over the company, or they must convince a judge next week to throw out a competing proposal backed by American Apparel's lenders.
    • Previously: CNBC: Fresh bid for American Apparel (Jan. 11 2016)
    | Fri, Jan. 15, 1:59 AM | 3 Comments
  • Mon, Jan. 11, 8:20 AM
    • Hagen Capital Group and Silver Creek Capital Partners have submitted a bid for America Apparel (NYSEMKT:APP) at $300M, according to CNBC.
    • The two firms are believed to back a return to the company of Dov Charney in some role.
    • A bankruptcy judge can rule on the proposal if debt holder balk.
    | Mon, Jan. 11, 8:20 AM | 9 Comments
  • Fri, Jan. 8, 11:07 AM
    • American Apparel (NYSEMKT:APP) could emerge from bankruptcy with Dov Charney, according to a Bloomberg scoop.
    • Sources indicate that an investor associate of Charney is prepared to come in with a $200M takeover offer.
    • American Apparel stores showing a track record of stronger sales have been kept open during the bankruptcy drama.
    | Fri, Jan. 8, 11:07 AM | 3 Comments
  • Fri, Jan. 8, 2:16 AM
    • American Apparel (NYSEMKT:APP), set to emerge from bankruptcy this month, has received a takeover bid of more than $200M from an investor working with ousted CEO Dov Charney, Bloomberg reports.
    • If the retailer and creditors accept the offer, the plan would be for Charney to return in some capacity to the company. If they refuse, Charney and his financial backer would then need to persuade the judge to reject American Apparel's reorganization plan.
    | Fri, Jan. 8, 2:16 AM
  • Oct. 7, 2015, 3:20 AM
    • American Apparel (NYSEMKT:APP) is planning to revamp its struggling fashion business under a restructuring plan that would give ownership to Standard General, the same hedge fund which rescued RadioShack earlier this year.
    • Shares in American Apparel, the country's largest "Made in the U.S.A" brand, were suspended from trading on Tuesday ahead of their delisting from NYSE MKT.
    | Oct. 7, 2015, 3:20 AM
  • Oct. 6, 2015, 8:28 AM
    • Authentic Brands Group is considering picking up some of the pieces of American Apparel (NYSEMKT:APP), according to New York Post.
    • American Apparel has just begun a prearranged restructuring through the bankruptcy court.
    • Previously: American Apparel files for bankruptcy (Oct. 05 2015)
    | Oct. 6, 2015, 8:28 AM
  • Oct. 5, 2015, 4:39 AM
    • American Apparel (NYSEMKT:APP) files for Chapter 11 bankruptcy in Delaware.
    • The company intends to keep stores open while it seeks approval for its restructuring plan with lenders through the bankruptcy court.
    • Shares of American Apparel closed at $0.11 on Friday.
    | Oct. 5, 2015, 4:39 AM | 7 Comments
  • Sep. 25, 2015, 7:02 PM
    • American Apparel (NYSEMKT:APP) -9.7% AH after disclosing that it received a delisting notice from the NYSE because it has failed to maintain compliance with continued listing standards.
    • APP's financial condition "has become so impaired that it appears questionable... as to whether the company will be able to continue operations and/or meet its obligations as they mature," the Exchange says, adding that a reverse stock split would be "appropriate."
    • APP has until Oct. 9 to file a plan on how it intends to regain compliance.
    | Sep. 25, 2015, 7:02 PM | 2 Comments