NEW YORK — Troubled clothing chain American Apparel Inc. said Tuesday it might not have enough liquidity to sustain itself over the next year.
The news sent shares down 21 percent to a 52-week low.
The company also reported Tuesday a preliminary second-quarter loss. It expressed doubt about its ability to continue as a “going concern,” standard language foreshadowing a possible bankruptcy.
Desperate attempt at publicity for a dying brand? Old head designer Calvin Klein goes the way of American Apparel and Abercrombie & Fitch with their new ‘threesome’ billboard campaign.
It seems billboards like this are now commonplace in NYC and have even caused multi-million dollar lawsuits in its wake.
via CBS 2 NY
It’s hard to offend a New Yorker with an advertisement, but that’s not to say that people won’t keep trying.
The latest racy billboard hoping to shock people is in SoHo, and it features three partially clothed models in a sexually suggestive situation.
A billboard is supposed to catch your eye, and in this instance, consider that mission accomplished.
“It’s just completely out there,” one mother said. “I don’t want the kids to see it.”
“I think it’s telling people it’s okay to do that, and it’s kind of gross,” Aleasha Stephens, a tourist from Houston, says.
I did not think these guys would buckle and give up such a huge payday to Woody(pause). They were wrong for using his image but was that campaign that successful that his lawyers could command that type of money? Read the story below:
NEW YORK — Woody Allen agreed Monday to a $5 million settlement in his lawsuit accusing American Apparel of using an image parodying him as a rabbi without his permission.
Both sides announced the settlement _ to be paid by American Apparel Inc.’s insurance company _ on the morning a trial was to start in federal court in Manhattan.
Reading from a statement outside court, Allen said he hoped the outcome “would discourage American Apparel or anyone else from ever trying such a thing again.” His lawyers said the $5 million appeared to be the largest amount ever paid to settle a lawsuit brought under state privacy statutes.
American Apparel president Dov Charney told reporters it wasn’t his decision to settle. The Los Angeles-based company’s insurance company “controlled the defense” in the case, he said.
“I’m not sorry for expressing myself,” he said.