By and and and and  on June 20, 2014

The high-wire act that was Dov Charney as chairman and chief executive officer of American Apparel Inc. met its abrupt — and some believe inevitable — end Wednesday, bringing down one of fashion’s most colorful figures and opening the door for a potential sale of the company he founded.

After a 10-hour marathon meeting behind closed doors in New York, the company’s board said late Wednesday it had replaced Charney as chairman and planned to terminate him as president and ceo for cause in 30 days, citing “an ongoing investigation into alleged misconduct.”

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