Pursuits
American Apparel Founder Says Company Couldn’t Survive Without Him
Dov Charney
Photographer: Keith Bedford/BloombergThis article is for subscribers only.
American Apparel Inc. founder Dov Charney, who was ousted by his own board for misconduct in 2014, said the retailer’s latest bankruptcy filing shows that the company can’t stay afloat without him.
The largest producer of American-made clothing filed for bankruptcy Monday, just nine months after ending its first stint under court protection. Even with an injection of cash and a reduction in debt, a turnaround plan led by Paula Schneider, who replaced Charney as CEO, failed to revive American Apparel’s fortunes.