Here’s The Latest In American Apparel’s Second Round Of Bankruptcy Talks
by MR Magazine Staff
Nov 10, 2016
American Apparel has resumed talks with at least two potential bidders for the U.S. teen clothing retailer, after bankruptcy sale negotiations with brand licensor Authentic Brands stalled earlier this week, a source close to the company said on Tuesday. American Apparel is looking for a buyer as it prepares for its second bankruptcy in as many years. Declaring bankruptcy would allow any buyer of the Los Angeles company to avoid tens of millions of dollars in liabilities, including leases for around 140 stores in the United States and Canada. The company is discussing a bankruptcy sale to brand licensor Sequential Brands and financial services company B. Riley Financial, among others, the source said. Read more at Fortune.
