Dov Charney May Have To Destroy American Apparel To Save It

If he can’t have it, no one can.
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Whatever it takes.

You'll have to pry this thing out of his cold, dead hands.

American Apparel’s battle with Mr. Charney has become one of the most protracted efforts by a public company to part ways with its chief executive, several leadership experts said. The fight has produced a thicket of litigation and could escalate. Restrictions in a standstill agreement under which Mr. Charney has agreed not to launch a fight for board seats expire in July….

The subject of all the wrangling is a troubled company that early on won fans for its hip spin on cotton jersey, its pledge to manufacture in the U.S. and its highly sexualized advertising. American Apparel has accumulated more than $300 million in losses since 2010. Sales fell 4% last year to $609 million, and its stock price is down to 55 cents.

At American Apparel, Suits Overshadow the T’s [WSJ]
Earlier: Dov Charney Still Doing His Thing, Hedge Fund Tring to Destroy American Apparel Because It Fired Dov Charney: Lawsuit, Dov Charney Wants $40 Million For Unpaid Vacation Days, Office Furniture, Nights American Apparel Made Him Weep, Dov Charney Spending His Last $100K On Lawyers

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