Bankruptcy
Nov. 16, 2016
After GC becomes CEO, American Apparel files for bankruptcy again
One month into her role as CEO at the Los Angeles-based American Apparel USA LLC, Chelsea A. Grayson will oversee a second bankruptcy filing within a year and the $66 million sale of intellectual property to Canadian clothing manufacturer Gildan Activewear Inc.
Daily Journal Staff Writer
After promoting its general counsel to CEO last month, Los Angeles-based American Apparel USA LLC filed for bankruptcy Monday for the second time in 13 months and sold $66 million of intellectual property to Canadian clothing manufacturer Gildan Activewear Inc.
"The company faced unfavorable market conditions that were more persistent and widespread than the debtors...
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