That Was Quick: American Apparel Emerges from Chapter 11
The CEO of American Apparel Paula Schneider says, “This is the start of a new day at American Apparel.” This is in regards to them (as expected) exiting Chapter 11 Bankruptcy at the end of last week. So ends any value to stock that was held and they are now a privately held company, American Apparel LLC.
You can read the American Apparel press release for more details.
For most of you who are in the wholesale garment trade or printers, this means that American Apparel probably will be a stronger company and have a better handle on their inventory. As Ms. Schneider says it is certainly a new day.