Dov Charney, the retail equivalent of Terry Richardson (read: paedo resembling, model-harassing, perv-meister) is gonna be quaking in his oversized 70’s spectacles as his American Apparel empire is reportedly in financial trouble.

Yep, apparently everyone’s favourite basic separates company is playing peekaboo with bankruptcy. Investors, Lion Capital have been throwing them a lifeline but as a result Dov has had to cough up a giant equity stake to the private equity firm. Seemingly hemorrhaging funds, Lion have put the kibosh on AA’s spending - and Dov ain’t happy! To top it all off last week profits dropped 17%.

Strange as I’d have nailed American Apparel as really rather flourishing right now, what with the amount of stores that have popped up in London over recent years. Hate to say it but maybe it’s karma for poor old Dov (ala Tel’s current witch hunt) - a dude who also thinks coercing his models into getting down-n-dirty with him is just A-OK - oh, and who also recently held an ass contest for his customers. Let’s file this one under ‘Long Overdue Comeuppances For Dirty Old Men’.

Posted on March 30, 2010 at 4:06:22 by The Real Runway