The largest clothing manufacturer in North America is hanging by a thread.
American Apparel, less than nine months after emerging from Chapter 11 and losing sales and bleeding cash, has been slashing payroll at its Los Angeles factory — but it may not be enough to keep it afloat through the holidays.
Working with a restructuring expert, the company, famous for its provocative ads and Made in the USA apparel, has had talks with licensing firms and could agree to be sold in a deal that would precipitate another trip through bankruptcy court.
I remember when i went into my local American Apparel and asked them if they went bankrupt and were going out of business and the clerk said ‘we’re bankrupt but we’re the good kind of bankrupt!’
The delusion, i laughed in his face
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