American Apparel to file second bankruptcy
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New York
AMERICAN Apparel LLC plans to file its second bankruptcy in just over a year as soon as Monday, weighed down by intense competitive pressures facing US teen retailers and a rocky relationship with its founder, according to people familiar with the matter.
A second bankruptcy would come as the retailer struggles to overcome years of losses and rising online competition. The company became a part of popular culture for its racy advertising and mercurial founder, Dov Charney.
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