American Apparel downtown Brooklyn

American Apparel: All News Is Bad News

Yesterday emerged 1st genuine indications that United states Apparel could quickly deal with bankruptcy. Today, the headlines for Dov Charney's breast-covering empire grows darker: a shareholder suit, reported shop closings, a stock that's nonetheless plummeting, and disgruntled staff members mailing us.

Yesterday's AA monetary reports sent the stock down almost 30percent; today, the close associated with the marketplace saw it fall another 22%, to only 82 dollars a share.

In nyc, in which AA is almost the fashion version of Starbucks, the fantastic contraction appears unavoidable. Crain's reports that AA states there are "presently no plans" to close some of its 20 New york and Brooklyn locations, but retail analysts believe that areas with several stores, like SoHo and downtown Brooklyn, could see closures.

Plus L.A., a more instant problem: AA investors have filed a lawsuit up against the business for mismanagement. The chilling thing is the fact that entire suit is simply a factual set of things that have actually occurred toward company, almost all of which can be found by reading our archives. But taken together, they sure do noise horrible.

Yesterday, we asked for any interesting shows of this weekly AA meeting call between Dov Charney and store managers. We notice nothing unusual happened—"simply Dov in total denial and ranting about mannequins for about 40 minutes, " stated one listener. But a tipster did send united states this little Twitter discussion between your supervisors of two various AA shops. Seems like business as always! For now.

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