Pursuits
American Apparel Said to Get Takeover Bid From Charney Ally
- Offer of more than $200 Million would mark return for ex-CEO
- The bid faces long odds as bankruptcy plan nears completion
Dov Charney.
Photographer: Keith Bedford/BloombergThis article is for subscribers only.
American Apparel Inc., set to emerge from bankruptcy this month, has received a takeover bid of more than $200 million from an investor working with ousted Chief Executive Officer Dov Charney, according to people familiar with the situation.
Should the offer be accepted and a deal completed, the plan would be for Charney to return in some capacity to the company he founded in 1998, said the people, who asked not to be named because the matter is private. Charney, 46, was fired more than a year ago after allegations of misconduct, charges that his lawyer has denied. The proposal has committed financing, according to the people.