Dov Charney’s American Apparel Sinking Fast
Its stock is selling at all of $0.11 as of the end of Tuesday’s trading after it plummeted 6.34% for the day.
Someone somewhere is begging Dov Charney to return.
The firm is still losing money even after bringing in a restructuring expert and making many cuts, The New York Post reported. Maybe it should bring back its iconic founder Dov Charney.
Charney, after all, was the man responsible for making American Apparel a success in the first place. He did so, in part, with some very provocative ad campaigns like the one pictured above. And the one below:
OK so red blooded American males all appreciated these types of ads, but women did not. And Charney was ousted for a number of reasons from his position at the head of American Apparel. But things certainly have not gotten any better since he left. Dov Charney must be hurting to see other people run the company which he created from nothing into the ground.
Dov Charney was somehow able to make American Apparel a successful clothing firm while producing its goods in the U.S. Now there are rumors that the company is considering closing its Los Angeles factory. While they may continue to produce their goods in America, the move would be a blow to the local economy there.
— American Apparel (@americanapparel) October 30, 2016
Ilse Metchek, president of the California Fashion Association, told The Post, “The city couldn’t care if the garment manufacturing industry leaves. It wants to use industry space for high tech and bio tech industries.”
Well at least American Apparel is still putting out the same kind of ads as shown in the above tweet and in this Instagram post below.
And yet the company is still looking for models in spite of all of its problems.
Who knows. Maybe American Apparel is thinking about bringing back Dov Charney.Read more about: American Apparel, bankruptcy, clothing company, Dov Charney