Large Retailers Which Have Filed For Bankruptcy
American Apparel
Despite its name, American Apparel was actually founded in 1989 by a Canadian, Don Chaney. It then became one of the largest apparel manufacturers in North America. By the 2000’s, it was everyone’s go-to place for basic garments. Its advertising campaigns featuring non-models was also well-received.
Unfortunately, Chaney was fired several times for mismanagement allegations, as well as charges of indecent conduct, which prompted him to turn to his attorneys to regain control of his company. The beleaguered company filed for Chapter 11 for the first time in 2015 and re-emerged in February 2016. It filed for a second time later that year in 2016. In January 2017, it was acquired via auction by a Canadian sportswear company for $88 million.
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