American Apparel (APP) Downgraded to 'Caa3' by Moody's
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American Apparel says may not have enough funds for next 12 months
August 11, 2015 11:08 PM EDT(Reuters) - Loss-making teen apparel retailer American Apparel Inc (NYSE: APP) said on Tuesday it doesn't expect to have sufficient funds to keep the business running for the next 12 months, warning shareholders may lose some or all of their investments and it may not be able to raise additional capital.
American Apparel, which is being sued by founder and former Chief Executive Dov Charney over claims of defamation and other matters, said in a regulatory filing it could breach covenants related to a credit facility with Capital One Business Credit... More
American Apparel (APP) to Delay 10-Q; Will Evaluate Alternatives
August 11, 2015 5:31 PM EDTAmerican Apparel (NYSE: APP) has determined that it is unable to file its Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2015 (the "Q2 2015 Form 10-Q") within the prescribed time period without unreasonable effort or expense for the reasons described below:
During the preparation and review of its interim financial statements for the fiscal quarter ended June 30, 2015, the Company identified potential non-compliance with its covenants for certain minimum financial ratios contained in its asset-backed revolving credit facility with Capital One Business Credit Corp. ("Capital One" and such facility, the "Capital One... More
