American Apparel Coupon Code April 2016
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About American Apparel
an American clothing manufacturer, designer, distributor, marketer and retailer based in Los Angeles, California. Was founded by Dov Charney in 1989, it is an integrated company vertically that is one of the major garment manufacturer in North America.
The company, which has not made a profit since 2009, filed for Chapter 11 bankruptcy in the US on October 5, 2015.
American Apparel was founded in 1989 by Dov Charney Canada.
In 1997 after a series of iterations, including a phase of production in South Carolina, the company moved to Los Angeles. Charney started sewing subcontract with Sam Lim who, at that time, there was a shop with 50 employees under Interstate Highway 10 in eastern LA. Many months later the two became partners. 2000 American Apparel moved into its current factory in downtown Los Angeles, where it continues to grow mainly wholesale business, selling T-shirts to screenprinters empty, company and brand consistency fashion. After his experience as a wholesale brand, the company moved into the retail market. The company was ranked 308 in the 2005 list of the 500 fastest growing companies in America Inc., with a growth rate of 440% in three years, earnings in 2005 totaled more than $ 211 million.
In late 2006, American Apparel had undergone a reverse merger and is listed on the US stock market.
It is also one of the few companies exporting clothes "Made in the USA" goods, and in 2007 sold about 125 million dollars of clothing manufactured in countries outside the US. The company encourages labor policies that eliminate the use of clothing produced in sweatshops. "
In 2010, American Apparel's auditor, Deloitte & Touche, resigned after announcing the company financial statements for 2009 can not reliable.The resignation led to an investigation by the Securities Commission and US exchange and offices of the US attorney for the Southern District of New York.
In April 2011, American Apparel has confirmed that it has secured $ 14.9 million in funding from a group of Canadian investors. Under the deal was announced, American Apparel sell some 15.8 million ordinary shares at 90 cents per share to a group of investors led by Michael Serruya and Delavaco Capital. The investors also received orders to purchase as much as 27.4 million shares.
In April 2013, American Apparel has issued a private placement of $ 206 billion in senior notes security. The proceeds were used to repay debt, credit facilities with high interest rates from Lion Capital's longstanding financial and Crystal.
In June 2014 the Board decided to overthrow the founder, president and CEO Dov Charney after allegations of misconduct. As interim CEO during the search for a permanent CEO, the company's chief financial officer John Luttrell was appointed. As co-president appointed Allan Mayer company and David Danziger. Charney, through his lawyer, claimed his overthrow was illegal and required recovery. Soon, Lion Capital repayment requirements of $ 10 million four-year loan early. A failure to repay the loan will be enabled by default on a credit line of $ 50 million to Capital One Financial.
In December 2014 American Apparel announced the official termination of CEO Dov Charney and promote fashion executive Paula Schneider.
As of September 2015, American Apparel had tried very much to avoid bankruptcy as it struggles to raise money to pay down US $ 15.4 million of debt due in October, 2015. It was struggling to find see money as it prepares to report a burning of the financial results in the coming weeks.
The clothing retailer warned investors in August 2015 that it would not have enough cash to "maintain operations for the next twelve months" that pose "substantial doubt that we can continue as a going concern ". The company filed for Chapter 11 bankruptcy on October 5, 2015
American Apparel was started by selling high quality T-shirts to the screen printer and the store in 1990 under US HEAVY label. Although it was made the transition into a major retail brands, the company remains one of the largest wholesalers in the country. American Apparel shirt used as band merchandise and concert T-shirt for the band, among many others, Hanson, Van Halen, Wilco, Death Cab for Cutie, Foursquare, Vampire Weekend, Metric, and flogging Molly as well as sites like Threadless, Tees burst. People for the Ethical Treatment of Animals, the animal rights advocacy group, of its printed on American Apparel clothing because they are manufactured domestically and not animals.