American Apparel Files for Bankruptcy Again
American Apparel LLC filed for bankruptcy protection again on Monday, its second filing since October 2015, reports Reuters. The company's struggles are linked to an increasingly competitive teen retailer industry in the U.S., not to mention its scandalous advertising and its founder Dov Charney's misconduct allegations. It's one of many teen retailers that have filed for bankruptcy within the last two years, including Wet Seal and Pacific Sunwear of California, given new spending routines and fewer trips to the mall.