American Apparel Inc. said weak trends in its business and pressure to meet obligation to lenders "raise substantial doubt that the company will be able to continue as a going concern."
The firm, headed by chief executive officer Dov Charney, said that barring a concession from its second lien lender, it would likely not meet the requirements of its minimum consolidated EBITDA covenant by Sept. 30.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)