American Apparel is preparing for its second Chapter 11 bankruptcy filing in roughly a year, with multiple sources telling Bloomberg the filing could come as soon as the next few weeks.
A bankruptcy could make the Los Angeles-based apparel retailer more appealing to a buyer, as it would allow American Apparel to let go of leases and shutter part of its operations. Brand licensors Authentic Brands Group LLC and Iconix Brand Group Inc. have already expressed interest in an acquisition, according to reports earlier this month.. . . more