“Between sinking sales and mounting legal fees, you might wonder how American Apparel has enough money to operate an international business. On Monday, the company provided a response to that question: it might not.
In a press release published on its website, American Apparel said that for the “next phase” of its turnaround plan, it’s putting in place cost-cutting measures that could reduce operating expenses by $30 million. (For context, the retailer lost $26 million in the first quarter of the year.) At the same time, CEO Paula Schneider says the team is working hard on making the fall assortment as strong a revenue driver as possible. Still, that might not be enough for it to stay in business without some outside help.” Read the full article at Fashionista