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.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"