April 23, 2011 |
American Apparel Inc. is getting a desperately needed financial lifeline. A group of Canadian investors has agreed to inject up to $45 million to help the trendy Los Angeles clothier — and its iconoclastic chief executive, Dov Charney — stave off a potential bankruptcy filing. The retailer has been buffeted by declining sales and a sagging stock price — not to mention a public-relations firestorm stemming from sexual-harassment lawsuits filed by former employees against Charney.
May 11, 2012 |
Los Angeles clothier American Apparel Inc. reported a narrower financial loss and improved sales in its first quarter of 2012, but it continued to struggle. For the quarter that ended March 31, the retailer reported a loss of $7.9 million, or 7 cents a share, an improvement from the loss of $20.7 million, or 28 cents a share, a year earlier. Sales totaled $132.7 million, a 14% jump from $116.1 million in the year-earlier period. "We're beginning to see the results of greater efficiency in merchandise planning, systems for delivery to markets and inventory control," said Peter Schey, a lawyer for American Apparel.
April 6, 2011 |
American Apparel Inc. Chief Executive Dov Charney is shooting down reports that the Los Angeles clothing company is looking for a buyer. "I'm not surprised that there would be interest in the company, and at times, there has been, but it's not accurate," Charney said. "We're not looking, and it's not going to happen. " On Wednesday, a report on private equity online forum peHUB said American Apparel had hired advisor Rothschild to help it explore a potential sale, citing three sources familiar with the matter.
October 9, 2009 |
The reality television show "Project Runway" this season is putting the spotlight on Los Angeles, where designers toil in a loft downtown, competing to win $100,000 to start their own clothing line. The local industry could use the boost. L.A.'s once-flourishing garment design and manufacturing industry is shedding jobs as quickly as a mohair sweater loses its fur. Weak U.S. consumer spending is generating less demand for the services of the people who stitch, cut and sew clothing in Los Angeles County.
April 1, 2011 |
American Apparel Inc. said sales declined and it lost money in 2010, and it warned that several risk factors this year could force it to seek bankruptcy protection if business doesn't improve. In its 2010 annual report, filed Thursday, the Los Angeles clothing company — currently embroiled in two sexual harassment lawsuits that former employees filed in March — reported sales of $533 million last year, a 4.6% decline from 2009. It also reported a net loss of $86.3 million for 2010 and said it expected an operating loss for 2011.
September 7, 2010 |
Asian Americans typically have the lowest unemployment rate of any ethnic group in the United States. But in this weak labor market, once they lose their jobs, they have an especially hard time reentering the labor force, data show. In July, nearly half of all jobless Asian Americans in California had been out of work for 27 weeks or longer, compared with 40% of Latinos and 42% of whites, according to an analysis of data from the state Employment Development Department. Experts said the strong family and cultural ties that bind Asian entrepreneurs and a largely foreign-born Asian workforce can be a liability during tough times; laid-off workers often aren't sure where to turn for work outside their ethnic circles.
February 2, 2011 |
When producers of the ABC game show "Downfall" needed a building from which to hurl dishwashers, gumball machines and other "prizes," they settled on a warehouse on the east side of downtown Los Angeles. The six-story building on Terminal Street, near the corner of 7th and Alameda streets, was among the most popular on-location filming sites in the region in 2010, along with a long-closed hospital in Boyle Heights and a faux Route 66 pit stop on the edge of the Mojave Desert, according to a recent survey by the nonprofit group FilmL.
April 30, 2008 |
Decrying what he called the federal government's "overboard meat-ax approach," California Assembly Speaker Fabian Nunez joined executives of American Apparel Inc. on Tuesday to condemn escalating raids on businesses to look for undocumented workers. Outside the company's pink factory in downtown Los Angeles, where a large "Legalize LA" sign hung on one building, Nunez said stepped-up work site investigations by Immigration and Customs Enforcement were hurting the economy.
September 3, 2009 |
Hundreds of American Apparel Inc. workers must leave the company because they were unable to prove their immigration status or fix problems with their employment records, the company said Wednesday. The terminations come two months after the Los Angeles manufacturer and retailer announced that a government inspection had found that about 1,600 of its workers didn't appear to be authorized to work in the U.S. About 200 more had been found to have discrepancies in their employment records.