In October 2015, American Apparel made headlines when it filed for bankruptcy protection. Now, the much-maligned brand has received a $300 million takeover bid from investors Hagan Capital Group and Silver Creek Capital Partners, which would bring the brand back from the brink - with just one condition.
The investor group wants to bring back American Apparel's controversial founder Dov Charney - you know, the guy who was fired in 2014 for alleged misconduct that included misusing company funds and multiple cases of sexual harassment. Why? They believe American Apparel was in better hands with Charney on board. "Dov's creativity, entrepreneurialism and dedication are the cornerstone of American Apparel," the managing partner of Hagan Capital, Chad Hagan, said in a statement. Business of Fashion has reported that Charney has developed a new business plan that the investors approve of - which is all well and good, it seems, unless you have to share an office with the guy.