American Apparel’s stock will be removed from listing on the New York Stock Exchange Nov. 6.
Trading of American Apparel shares had already been suspended earlier this month after the company said it was filing for Chapter 11 bankruptcy.
The filing closed the books on one chapter of a long-drawn out saga for American Apparel that saw the struggling business seek out new tactics to win back consumers as it struggled under the weight of a high debt load. The end of last year saw the ouster of founder and former chief executive officer Dov Charney and the appointment of current ceo Paula Schneider.
The Los Angeles firm said in court documents it expects to reduce its debt from $300 million to about $135 million once it emerges from reorganization, which it said it expects to complete in about six months.
