Topics

Annual and Special Corporate Meetings
American Apparel CEO's playboy lifestyle overshadowed successes
American Apparel CEO's playboy lifestyle overshadowed successes

American Apparel's abrupt ouster of controversial Chief Executive Dov Charney may pitch the company into bankruptcy by triggering defaults on two outstanding loans, the retailer warned Thursday.  In an SEC filing, American Apparel said the board's move to terminate Charney may trigger defaults under credit agreements with Lion/Hollywood and Capital One Business Credit Corp. A default "could cause us to become bankrupt or insolvent," the retailer told the Securities and Exchange Commission. Any acceleration on debt payments "would have a material effect on our liquidity, financial condition and results of operations." As of March 31, American Apparel...

Loading