American Apparel申請破產保護美國時尚零售商American Apparel已申請第11章破產保護，原因包括3.11億美元債務、銷售額下滑，以及一些企業之間的訴訟官司。
在該公司創始人及前執行長Dov Charney下台約9個月後，今年2月上任的該公司執行長Paula Schneider表示：「透過改善我們的財務基礎，我們可望重新調整我們的業務，努力執行我們的轉型策略，我們期望創造新的相關產品，推出新的設計及行銷計畫，投資新店面，發展我們的電子商務業務，創造新的行銷活動，這將有助於推動我們的業務向前發展」。
該公司在Schneider帶領下，也不斷加強其管理團隊，最近任命Thoryn Stephens作為第一個首席數位長，並任命Cynthia Erland為高級行銷副總裁。
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American Apparel files for bankruptcyAmerican Apparel has filed for bankruptcy protection after persistent plunging sales at the the scandal-ridden teenage fashion company.
The Los Angeles-based company, which makes all its clothes in the US, said it had reached a restructuring deal with 95% of its secured lenders to reduce its debts.
Lenders will write off about $200m (£131m) of bonds in exchange for equity in the company, reducing its debt to no more than $135m and cutting annual interest payments by $20m.
As part of the deal, American Apparel will file for chapter 11 bankruptcy protection, the company said in a statement.
American Apparel started out as an idea that its founder, Dov Charney, had in his Tufts University dorm room in 1989. It expanded to sell US-manufactured clothing from 260 shops in 19 countries, attracting notoriety for explicit advertising. Then followed a string of increasingly lurid allegations against Charney, undermining any lingering glamour from the company’s image. He was alleged to have made an 18-year-old sales clerk his “sex slave”, masturbated repeatedly in the presence of a female journalist sent to profile him and sent explicit texts to employees.
The 46-year-old Canadian, who once held a meeting wearing only a sock – not on his foot – has been cited in several sexual harassment lawsuits brought by former employees.
However, it was mainly financial rather than sexual matters that led to the company’s downfall as American Apparel failed to keep up with its young consumers’ tastes. Charney’s behaviour arguably sapped the company’s morale and took its sexualised image too far for young shoppers.
Charney had built American Apparel into one of the world’s most admired fashion brands, trading on an image that combined hipster chic and the sexual mores of the 1970s.
He won plaudits for his “Made in America” policy, which shunned the sweatshops of Asia to support US manufacturing. He paid double the minimum wage to his mainly immigrant workforce and provided health insurance and free international telephone calls.
But changing fashion trends and the financial crisis made young shoppers less keen to pay £30 for one of Charney’s plain T-shirts. Sales slumped and debts mounted.
American Apparel’s board fired Charney as chairman in June 2014 and sacked him as chief executive in December for sexual misconduct. The board highlighted the rising cost of defending the company against lawsuits against Charney and said potential backers would not deal with a firm with the self-confessed “dirty guy” at the helm.
American Apparel’s bankruptcy had looked likely for some time after it suffered mounting losses. The company reported a $19.4m loss in the second quarter of this year – its 10th consecutive quarterly loss – as sales dropped 17%.
American Apparel CEO Dov Charney fired: the fall of a merchant of sleaze
“This restructuring will enable American Apparel to become a stronger, more vibrant company,” chief executive Paula Schneider said in a statement early on Monday.
The company listed assets and liabilities of between $100m and $500m in its bankruptcy filing.
Original Article: TheGuardian