The sale process comes just six months after American Apparel emerged from Chapter 11 bankruptcy, following the public ouster of its controversial founder and chief executive officer, Dov Charney, and a string of losses that the company has struggled to reverse. “As we have regularly communicated to employees, vendors and customers, we continuously evaluate strategic alternatives,” American Apparel, which is now owned by its former creditors, said in a statement. When contacted for comment, Charney said he would have to see what the asking price for his old company is before considering making a bid.
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American Apparel hires investment bank to explore sale: sources