American Apparel Inc. on Monday filed itsdelayed update on second-quarter results with the Securities and Exchange Commission, reporting a loss and reiterating concerns about its ability to keep operating.
The Los Angeles-based retailer and producer of trendy basics said it incurred a substantial loss from operations and had negative cash flows from operating activities for the six months ended June 30. Based on results and projections for the rest of 2010, American Apparel said it “may not have sufficient liquidity necessary to sustain operations for the next 12 months. The company’s current operating plan indicates that losses from operations are expected to continue through at least the third quarter of 2010.”
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?"