Retail in Asia

Investor group offers to buy American Apparel for USD300m

An investor group wants to buy American Apparel for about USD300 million and bring back the clothing chain’s founder and former CEO Dov Charney.

Charney was fired from American Apparel in 2014 following allegations that he had violated the company’s sexual harassment policy. Charney denied those charges.

The investors, Hagan Capital Group and Silver Creek Capital Partners, said Monday that they have submitted a bid. American Apparel said in a statement Monday that it evaluates all bids and that it is focusing on emerging from bankruptcy protection. The Los Angeles company filed for Chapter 11 bankruptcy protection in October.