Question

In 100 words Decide American Apparel. please type

Answer 1

American Apparel Inc. is an online-only retailer and previous physical stores administrator situated in Los Angeles, California. Established by Canadian specialist Dov Charney in 1989, it was a vertically coordinated organization that positioned as one of the biggest clothing producers and advertisers in North America.

Subsequent to losing cash for six back to back years, American Apparel petitioned for Chapter 11 insolvency in the U.S. on October 5, 2015 in the United States Bankruptcy Court for the Central District of California.It was accounted for that the brand at that point consented to an arrangement with its lenders to change over $200 million of obligation into value, $90 million in indebted person financing and $70 million in new capital

The organization formally left chapter 11 after its money related rebuilding plan was acknowledged by the Bankruptcy Court in Delaware and turned out to be exclusive by its lenders and investors, in this way disavowing every single previous investor just as ex-CEO and author Dov Charney. In January 2017, Gildan Activewear bought American Apparel's licensed innovation and different resources for $88 million out of an insolvency sell off after the organization petitioned for financial protection a second time in November 2016