American Apparel Bankruptcy Appears Likely
:(
I felt a great disturbance in the Force, as if millions of hipsters suddenly cried out in terror and were suddenly silenced.
This is because sensible human beings don’t want to pay 40 fucking American dollars for a wafer thin cotton t-shirt. Not here.
Wrong. This is because the company was terribly managed. They showed for a number of years that they could indeed get people to pay $40 for a crappy t-shirt. And that was the magic of America Apparel. And they messed it up by allowing Dov to continue to run the business. If they put a solid management team in place back in 2007 this company would be worth 5X to 7X by now. Maybe more.
EVANGOTLIB and SADE!!! Worlds just exploded.
