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Translation? AA is now that much closer to needing a major


Memo to American Apparel of Possible “Delisting”

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As if the mounting news of American Apparel’s rapid decline weren’t enough (in summary: AA is in trouble over inflated numbers from 2009 mmafights , causing their old auditor, Deloitte & Touche, to leave them high and dry in the face of mounting questions from law firm Goldfarb Branham LLP, including why they haven’t filed their second quarter results with the NYSE AMEX, due since June 30), there’s even more twists to the story:Turns out, the NYSE AMEX issued AA a memo late yesterday warning the LA-based basics brand that they’re on the brink of being delisted entirely. Translation? AA is now that much closer to needing a major injection of money, which might be tough to drum up since they’ve announced a likely breach of loan covenant with the last firm that spotted them $80 million canada goose uk shop , Lion Capital LLP.It’s hard to speculate what will happen to the ubiquitous clothing chain, but it’s also hard to speculate about who would loan them money given all their troubles, including the string of SEC-probed sexual allegations against CEO Dov Charney over the years. We suggest stocking up on some of your favorite US-made basics before it’s too late and this online-only sale should hit the spot.—Natalie HormillaPhoto: via americanapparel.net

Memo to American Apparel of Possible “Delisting”

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