US clothing retailer American Apparel files for bankruptcy

Troubled teen clothing retailer American Apparel has filed for bankruptcy protection and said it had reached a restructuring support agreement with most of its secured lenders

4th October, 2015

Troubled teen clothing retailer American Apparel has filed for voluntary chapter 11 bankruptcy protection and said it had reached a restructuring support agreement with most of its secured lenders.

American Apparel said it would continue to operate its business throughout the process with its retail stores, wholesale and US manufacturing operations continuing without interruption.

The retailer said it expects to cut its debt to $135 million (€120 million) from $300 million, as the restructuring will eliminate...

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