Wow is this one hot rumour!
American Apparel have been hitting the headlines recently for all manner of things. Sexism, debts, racism amongst some of the more 'intense' stories. So today it was revealed that the company are $120 MILLION IN DEBT!
It gets worse - and might not be able to continue trading!!!! This follows the news (as I posted here a few weeks ago) that AA are down 14% in shares and they owe one trader $80 million.
Despite Dov Charney's (the man causing the bad press - he's a bit of a sexist and is currently being sued for harrassment) super happy face while he attempted to stem the flow of bad reports concerning the figures for AA. News keeps leaking from a source which today revealed the news of the $120 million debt.
In their financial statement AA revealed : “may not have sufficient liquidity necessary to sustain operations for the next twelve months.
wow.
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