American Apparel have exited bankruptcy.....but at what cost?

Well it has happened finally.

Dov is out!

American Apparel officially held its bankruptcy meeting and rejected the $300 million bid from Charney and pro  Charney investors.

It has been approved that AA can now exit their Chapter 11 bankruptcy which they filed for in October of last year. This has been subject to some serious reorganisation.

So how do you change a company which was bankrupt into something worth saving?

One of the ways in which Charney will be left with nothing is that AA is now a privately traded company which leaves its shareholders with nothing. Full control will be given to its bond holders. It's existing stock will be streamlined into a more successful and tighter design line with newer items appearing. Paula Schneider the CEO of AA has already committed to changing the advertising campaigns. Which is one of the reasons why this blog has always boycotted AA.

I don't support companies with campaigns that treat women like sexual objects. There is a lot worse that I could say but lets face it, their record is already public right?

Oh but Dov isn't giving up that easily and plans to carry on his battle. This could go well into Spring 2016.