American Apparel defends turnaround plan against Charney's bid

January 20, 2016 10:03 PM

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American Apparel defends turnaround plan against Charney's bid

WILMINGTON, Del. American Apparel's (APPCQ.PK) chief executive told a bankruptcy judge on Wednesday the retailer could become embroiled in drawn-out litigation if it accepted a takeover bid being championed by its founder and former CEO Dov Charney.

Los Angeles-based American Apparel Inc, known for its "Made in the U.S.A" fashion and sexually charged advertising, joined other teen-focused retailers by filing for bankruptcy in October due to changing shopping habits.

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