American Apparel Inc. said Friday it had been given an extension until Nov. 15 by NYSE Amex LLC to file its official financial results for the second quarter ended June 30 and avoid being delisted by the exchange. The embattled Los Angeles-based retailer and wholesaler of trendy basics said it received a letter from NYSE Amex on Sept. 13 that its plan to regain compliance with listing criteria had been reviewed by the exchange and the extension granted. The firm had said its new independent auditor, Marcum, required more time to work through its numbers. AA’s ability to continue as a going concern has been in doubt since it said on Aug. 16 that, with debt of $120.3 million and second-quarter operating losses of between $5 million and $7 million, it “may not have sufficient liquidity necessary to sustain operations for the next 12 months.” Chief executive officer Dov Charney told WWD at the time, “The capital structure issues will work themselves out.” Last week, the company’s shares had the second strongest gains of the 171 public companies tracked by WWD, rising 29.2 percent to $1.46.
Peter Kim's Los Angeles-based premium denim line has always had its finger on the pulse of youth. This season, novelty is back in a way reminiscent of early Aughts, with studs, lace-ups, racing waxed denim and more. For more highlights if some of the key brands at the Vegas trade shows, go to WWD.com. #wwdfashion (📷: Patrick Gray; Styles by @thealexbadia; Story by @karihamanaka and @marcy_wwd)
"I was driving back on Saturday afternoon from the beach, and I just saw this sign saying 'Skydiving for $95.' And I was like, I can't not sky dive for $95," says Tom Bateman about a moment in Hawaii while shooting "Snatched." #wwdeye (📷: @vsteves; Interview by @ktauer; Styled by @thealexbadia)