You are here

American Apparel files for bankruptcy

23153123.jpg
Troubled teen apparel retailer American Apparel Inc filed for bankruptcy protection on Monday and said it had reached a restructuring support agreement with 95 pervcent of its secured lenders.

[BENGALURU] Troubled teen apparel retailer American Apparel Inc filed for bankruptcy protection on Monday and said it had reached a restructuring support agreement with 95 per cent of its secured lenders.

"This restructuring will enable American Apparel to become a stronger, more vibrant company," chief executive Paula Schneider said in a statement.

The company listed assets and liabilities of between US$100 million and US$500 million in its bankruptcy filing.

REUTERS

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom