FIRST AIRED: May 23, 2017

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00:00:00
teen retailer American apparel filing for bankruptcy Monday they want white hot brand praying it will keep stores open throughout a six month restructuring period the latest victim of tough competition among teen clothing chain , it's been a long fall for the company and its flamboyant founder Dov Charney , turning built the grant for the teacher label in nineteen eighty nine to a fashion favorite known for its retro style risque ads and made in America mantra , but in recent years it may have been better known for Chinese antics which allegedly included lewd acts in front of a reporter and sexual harassment of female employees American apparel board ousted Charney is chairman and CEO in December and later slapped him with a restraining order cleaning turning misused funds its finances so impaired that the New York Stock Exchange threatened last month to de lifted the restructuring will cut its debt by more than half and wipe out shareholders Carney included