Kate

Untitled-3

Advertisements

American Apparel Might Have Already Been Dead A Year Go

aa1

The official demise of American Apparel really might be happening, and soon, if the brand’s second-quarter-earnings filing released this week is any indication. Shares are down 87% this year, and net losses for the previous quarter are valued at $19.4 million. The prognosis for survival of the once-popular purveyor of bodysuits and hoodies is a year or less, possibly: “We believe that we may not have sufficient liquidity necessary to sustain operations for the next 12 months. These factors, among others, raise substantial doubt that we may be able to continue as a going concern,” the company said in the filing. Continue reading