Since June 18th, the day that Dov Charney got fired by American Apparel, it was almost a fact that he would not lose without a fight and he would try to take it back. The 25% of company shares he owned, has become 43%, since June 27th. Now, there are only 7% shares he should take back, in order to regain the power he had in the company he founded back in 1997.
The purchase was completed thanks to investment firm Standard General, that bought the shares and then lent him the money, so he could acquire them. However, the remaining percentage won’t be part of his property any time soon, given the fact that, after this circumstance, the board of directors decided not to sell any shares for the upcoming year.
Well, the “fight” seems much more interesting than expected!