Senior Content Editor“We take no joy in this, but the Board felt it was the right thing to do. Dov Charney created American Apparel, but the Company has grown much larger than any one individual and we are confident that its greatest days are still ahead.” External sources, including Sitrick & Co., have refused to comment on the truth behind the misconduct and the investigation therein. In an attempt to get all of the facts, BuzzFeed called Charney's personal number. He hung up after a quick "Hello?" He has since disconnected his voicemail box. Charney did give an official interview back in February, however.
“I don’t have people bursting in my house yet telling me to take a hike,” Charney confessed when asked about a possible change in company ownership. “Who else is in the founder-led companies that are big out there? Everybody’s a 5 or a 6 or approaching a 7. I’m in my mid-forties so I’m building a team and I’m widening it, but I’m just cracking my knuckles and getting started. When I’m in my mid-fifties, I’m going to start looking at how to widen, you know, start passing on the torch completely. But right now, I’m just figuring where I want to drive the bus.”
In an attempt to stay afloat, American Apparel has sold some of its own stock. Even so, their creditors are circling ever closer, and they will soon go into "discussion with its lenders for a waiver on the [company's] default."
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