Nice leggings, but does it have legs?
A ray of light shone from high street heaven today as it was announced that American Apparel may be saved from bankruptcy. Grazia reports that the company’s financial backers, Lion Capital, are planning to ‘alter the terms of their agreement’ so that neon lycra fans across the country won’t have to see their favourite retailer go bust.
Grazia has a quote from Lyndon Lea of Lion Capital, who says 'Lion Capital has enormous admiration for both American Apparel and its founder, Dov Charney. We are working together to support a number of key initiatives within the business, including hiring several new senior executives.'
All this must seem like water off a duck’s back to Don Charney, who has seen his fair share of successes, failures and controversies over the years. He has had several unproven sexual harassment lawsuits, which may or may not be referenced in the label’s new series of ads in which Charney is seen in bed with his creative directors. American Apparel has long been a favourite with hip young things around the world and there are some who say that the label’s current financial difficulties are down to it not changing with the times. Time will tell if there is a future for American Apparel’s brand of cool.