As evidenced by their most recent quarterly filing, American Apparel's continues to grapple with financial issues. Despite its strong brand recognition (among a host of accolades, they were named "label of the year" by The Guardian in 2008), it's reputation as a trendsetter, and it's provocative advertising, they are struggling to survive. The company lost $9.5 million in the 3rd quarter of 2010 (alone) compared with a profit of $4.2 million for the same period in 2009. To make matters worse, their auditors, Deloitte and Touche, resigned in August, 2010 claiming that there were "potential material errors in the consolidated financial statements for 2009". This has become the subject of an official FBI criminal investigation.
American Apparel's Financial and Legal Woes Continue
Posted by ronika under NewsFrom http://www.montrealfinancial.ca 4917 days ago
Who Voted for this Story
Subscribe
“Rachel: Great to hear! Thanks for your kind words! :)
All the Best,
Martin...”
“Thank you, Martin. That's a fantastic motto... and I couldn't agree more!...”
“Lisa: Good to hear! Thanks for your response....”
“For sure, I know I did years ago when I was working for others....”
“Lisa: I wonder if they potential employee is doing a background check on...”
Comments
4916 days ago
4917 days ago
businessavante