American Apparel Inc.’s shares fell 32 percent Thursday after reports said it has hired Skadden, Arps, Slate, Meagher & Flom to advise it on restructuring options.
Credit professionals are saying that the controversial specialty chain has been having a hard time complying with financial covenants in its loan agreements. Meanwhile, those who trade debt have begun speculating whether a restructuring of the chain’s financial structure could include a bankruptcy filing down the road.
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)