American Apparel Inc., the Los Angeles-based retailer with more than 280 clothing stores, fell 14 percent in New York trading after saying Deloitte & Touche LLP resigned as its accountant.
Deloitte has notified American Apparel that its financial statements for 2009 may not be reliable, the retailer said in a regulatory filing yesterday. American Apparel and Deloitte had no disagreements, according to the filing.
