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American Apparel faces tussle for control at bankruptcy hearing
2016-01-20 13:27:43| Apparel - Topix.net
Jan 20 American Apparel's former chief executive officer Dov Charney will take the stand in Bankruptcy Court on Wednesday in a last-ditch effort to wrest control of the ailing teen retailer from a group of hedge funds. Los Angeles-based American Apparel Inc, known for its "Made in the U.S.A" fashion, filed for bankruptcy in October, saddled by debt, excess inventory and millions of dollars in legal claims tied to Charney.
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American Apparel Said to Reject Latest Charney-Led Takeover Bid
2016-01-15 03:15:31| Apparel - Topix.net
American Apparel Inc.'s board of directors rejected the latest takeover offer involving the company founder and fired Chief Executive Officer Dov Charney, two people familiar with the decision said. The vote means an offer valued at $300 million from three investment funds who've aligned with Charney 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.
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American Apparel rejects takeover bid: source
2016-01-15 03:15:30| Apparel - Topix.net
Earlier this week, the Los Angeles-based company received a $300 million bid from a group of investors who are backing the return of Dov Charney. Hagan Capital Group and Silver Creek Capital Partners said their proposal included $90 million of new equity and a $40 million term loan, and backs a business plan from Charney, who was fired as chief executive in December 2014.
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American Apparel rejects takeover bid - BBG
2016-01-15 03:15:29| Apparel - Topix.net
Jan 14 Bankrupt teen apparel retailer American Apparel Inc's board has rejected the latest takeover offer involving the company's controversial founder, Dov Charney, Bloomberg reported, citing two people familiar with the decision.
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Dov Charney Gathers $300 Million for American Apparel Coup Attempt
2016-01-12 15:41:40| Apparel - Topix.net
The hipster clothing company he founded as a t-shirt line in 1997 was stripped from Charney in December of 2014 - he was fired by his own board following allegations of on-the-job sexual impropriety - and he's been fighting to take the Los Angeles-based firm back ever since. This time around Charney has paired up with Hagan Capital Group and Silver Creek Capital Partners to submit a $300 million takeover offer to American Apparel's board.
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