Several sources today say that American Apparel has filed for Chapter 11 bankruptcy. This does not affect screen print shops, don’t get your (skimpy American Apparel) panties in a bunch over it. Without giving it much thought I can think of at least five large companies in our industry that have been through Chapter 11.
This move by American Apparel for the most part turns creditor’s debt into equity and probably will make the company stronger in the long run. I would not worry about supply of shirts, if anything I would guess that inventory levels will improve.
Personally I am rooting for them to make it, they have been an industry leader and pioneer in both fashion and how to treat your employees.
“…they have been an industry leader and pioneer in both fashion and how to treat your employees.”
I agree. After visiting their facility several years back it was very impressive. Not too many companies offer what I saw there.
I had the opportunity thanks to Robert Lopez to tour the American Apparel Facility in LA last week and to say the least I was very impressed with the operation and how the employees were taken care of. I have toured many facilities around the world and none offered an On Site Medical Clinic, Phone Privileges, Clean, Well Lit and Cool Work Environments just to name a few. I to believe that AA will pull through BK with flying colors.
Hope they pull through and Dov gets backs on board.