american apparel bankcrupty

American Apparels downhill has no ending. After firing Dov Charney and watching their income drop, the company has filed for bankcruptcy protection.

The brand, which saw its share prices drop by 87%, while had a terrible second quarter, counting £12.8 mil. as damage, has no plans of stopping its works, or closing some retail store. The goal, after this “adventure” is to become even stronger and profitable, with the brand’s chief executive, Paul Schneider, aiming to reducing the debt of $300 mil. to $135 mil.