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Fight Over American Apparel May End in Company's Sale

With American Apparel founder Dov Charney and the retailer's board locked in what appears to be a battle to the death, industry observers say that the only thing that might rescue the Los Angeles-based company is a sale. That is, if its lenders don't decide to call their loans, which would leave American Apparel in a not-so-good way. Charney has enlisted the assistance of a hedge fund to buy up shares in his own company, despite a poison pill aimed directly at him passed by a board desperate to keep him at bay. It's been a long road for Charney who supposedly founded the company in his dorm room and it's not over yet. The Deal's Paula Schaap has details.
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