American Apparel was not necessarily destined for greatness when its founder — then just a college student named Dov Charney — had a business idea: he would sell t-shirts. Yet, within the past ten years, American Apparel has been in the news consistently for a variety of reasons. There were the scandalous advertising campaigns, for which the brand has become known; there was the news of its early financial success; and its staunch dedication to manufacturing in downtown Los Angeles; among other things. To determine how a company with so much promise could come crashing down so very publicly and disastrously, we have to start at the beginning, in , when Charney got his start selling t-shirts out of his dorm room at Tufts University near Boston, only to ultimately drop out before graduation to pursue the endeavor full time. Charney, himself. The ethos of quality both in terms of the garments and the experience of its factory employees and overt sexuality run to the core of company, dating back to its earliest days. The budding company opened its first store in , expanding to stores in 11 countries by , with garments and accessories for men, women and children lining its shelves.
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American Apparel Ad or Porn? | NewsActivist
Sources familiar with the matter claim that investment bank Houlihan Lokey Inc. It's more bad news for a company that's dealt with a lot if over the course of the last year. So, just like we did when news of the bankruptcy first hit, let's take a look back at the glory days. The porny days. And aside from sitting on a massive amount of debt, it's been embroiled in numerous lawsuits, ousted and then battled its notoriously raunchy CEO Dov Charney in court, and was only able to bring about 20 percent of fall merchandise to stores due to a lack of funding. Things haven't looked good in a long time. Which is why, today, it wasn't much of a surprise to see The New York Times report that American Apparel is declaring bankruptcy.
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Late Wednesday night, American Apparel fired to its controversy-courting founder Dov Charney as chief executive due to an "ongoing investigation into alleged misconduct. At the same time that scandal clung to Charney, the company's financial performance faltered. Shares in the company have fallen 84 percent over the past five years. Charney was the subject of lawsuits for sexual harassment and violence aimed at employees, charges routinely denied by American Apparel.
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